Joaquin Flores — Trans-Atlantic Collapse: Berlin-Brussels May Create ‘Swift’ Replacement

German Foreign Minister Heiko Maas said that the European Union needs to create an independent analogue of the American system for transferring information on SWIFT payments in order to protect its companies from US sanctions against Iran....

“In this situation it is of strategic importance that we clearly tell Washington: we want to cooperate. But we will not allow them to act over our heads, to our detriment. Therefore, it would be right to protect European companies from sanctions from a legal point of view, “said Maas in an article for Handelsblatt....

Getting the iron boot off your throat.

Fort Russ

Trans-Atlantic Collapse: Berlin-Brussels May Create ‘Swift’ Replacement

Joaquin Flores

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In a stunning vote of "no confidence" in the US monopoly over global payment infrastructure, Germany’s foreign minister Heiko Maas called for the creation of a new payments system independent of the US that would allow Brussels to be independent in its financial operations from Washington and as a means of rescuing the nuclear deal between Iran and the west.

Writing in the German daily Handelsblatt, Maas said "Europe should not allow the US to act over our heads and at our expense. For that reason it’s essential that we strengthen European autonomy by establishing payment channels that are independent of the US, creating a European Monetary Fund and building up an independent Swift system," he wrote, cited by the FT.…

Maas also called for the creation of a “balanced partnership” with the US in which the Europeans filled the gaps left where the US withdrew from the world. Europe must, he said, “form a counterweight when the US crosses red lines”....

Zero Hedge
Germany Calls For Global Payment System Independent Of The US

Tyler Durden

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... it is worth recalling that the President’s largest donor [Adelson] once suggested using nuclear weapons against Iran as a negotiating tactic....

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