anrec80 wrote:There are no major companies in EU without major US ties simply.
Major companies don´t make the majority of the economy. But nice try.
Total is getting its capital in the US capital markets, European banks make money in the US financial system, doing anything but what they should be - providing liquidity and capital to European firms. EU doesn’t even have any financial system it can call its own. Without using US financial services Lufthansa can’t even buy a Hamburg-assembled A-320 (and the contracts are being denominated in USD).
Hahaha... i can do money transfers into Iran from my online banking, i just checked, and i can have a USD account at the same bank and do USD bank transfers. I would assume Lufthansa would not have trouble opening an account at one of the myriads of Sparkassen that couldn´t care less about US sanctions. Neither would Airbus.
And that isn´t even trouble, even we have a couple of Non-EU, but located in the EU, supplieers where price lists and orders are in USD, we still pay in EURO. We simply agreed to pay the noon exchange rate of the day we ordered.
But that is just your and your bosses wet dream, isn´t it? Because you may be able to play USD games after a fashion with irrelevant economies like Russia or Iran as long as most of the worlds economy goes along with it, but use that wedge against the EU or even China, or any larger chunk of the worlds economy, and the USD is done as the international standard tender in that very second.
That is btw why China doesn´t play any currency games anymore, it is the only way to be accepted as a reserve, and hence international, currency.
In order for the whole European economy to come to a full stop, all that’s needed is an (un-) carefully prepared press-release by Steven Mnuchin’s press-secretary mentioning Deutche Bank in the wrong (or right, dependent on purposes) context. No decisions even..
Laundering money in the billions for the Russian mob didn´t do anything beyond getting Deutsche Bank itself in trouble, despite lots of statements and lots of proof.