© Reuters. European Commission President Juncker is seen before a debate on The State of the European Union at the European Parliament in Strasbourg
STRASBOURG (Reuters) – European Commission President Jean-Claude Juncker will call for the EU to promote the euro as a global currency to challenge the U.S. dollar as he presents his annual program to the European Parliament on Wednesday, a senior EU official said.
Among his concerns are the pricing of most EU energy imports in dollars even though only a tiny proportion come from the United States. With “political will”, the official said, Juncker believed that more euro pricing was possible.
While Norway prices its substantial supplies to the EU in euros, the official said, other countries use dollars. Among the most important of these are Gulf states and Russia.
With the United States under President Donald Trump seeming to pull back from international engagements, the European Union could find it a favorable moment to spread the euro, the official said ahead of Juncker’s State of the Union speech.
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