I may be misinterpreting your comment, so forgive me if I am.
When Trump began the trade wars (tariffs), it caused many countries to reconsider their alliances and operations. What you can see is a great shift away from the USD in many areas. This is not temporary, or at least not short-term.
Once trade alliances are formed between parties that exclude the US, those groups seek financial paths which are more stable and unrelated to the volatile path they previously took.
As for the EU, they have an insane task: trying to provide fairly equal voice to a large number of stakeholders. EU was a very idealistic concept, and I'm surprised it made it this far. But they should not be discounted. They may be slower to react to situations by virtue of their necessary processes, but they will eventually get it.
When Trump began the trade wars (tariffs), it caused many countries to reconsider their alliances and operations. What you can see is a great shift away from the USD in many areas. This is not temporary, or at least not short-term.
Once trade alliances are formed between parties that exclude the US, those groups seek financial paths which are more stable and unrelated to the volatile path they previously took.
As for the EU, they have an insane task: trying to provide fairly equal voice to a large number of stakeholders. EU was a very idealistic concept, and I'm surprised it made it this far. But they should not be discounted. They may be slower to react to situations by virtue of their necessary processes, but they will eventually get it.