France Parliament Seeks Global Currency in Dedollarisation Push

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France’s Parliament Calls for Bold European Strategic Realignment, Urging Break from US ‘Vassalization’

By TRH Global Affairs Desk

NEW DELHI, July 11, 2025 – A 153-page report from France’s Parliament has called for a sweeping strategic realignment of Europe’s geopolitical stance. The document, hailed as a bold critique of the European Union’s current trajectory, accuses the EU of being “vassalized” to the United States, resulting in a diminished global influence and poorly protected interests.

With 50 ambitious recommendations, the report advocates for Europe to break free from Atlantic subordination, pursue strategic autonomy, and forge closer ties with China. Published by a parliamentary commission, the report has been described by geopolitical analyst Arnaud Bertrand on X as “the most remarkable geopolitical document” from a major European institution this century.

It systematically dismantles the EU’s alignment with US-led policies, arguing that this dynamic has weakened Europe’s global standing. “The EU’s vassalization to the US has led to a catastrophic failure,” the report states, pointing to economic dependencies, strategic missteps, and a failure to assert Europe’s interests in a multipolar world.

Among its most striking proposals is recommendation number 14, which calls for the “creation of a common world currency” to challenge the dominance of the US dollar and promote global economic dedollarization. This move, the report argues, would reduce Europe’s vulnerability to US monetary policies and enhance its economic sovereignty.

“A common world currency could rebalance global trade dynamics and protect Europe from external financial pressures,” the report asserts, echoing growing sentiments among French policymakers for economic independence.

Recommendation number 11 proposes a significant shift in the EU’s Indo-Pacific strategy, advocating for a “cooperative approach including China” to replace the current framework, which the report criticizes as overly aligned with US interests. This call for partnership with China reflects France’s broader push for strategic autonomy, a concept championed by President Emmanuel Macron since 2017.

“Europe must not be caught in a binary US-China rivalry,” the report emphasizes, urging the EU to act as a “balancing power” in the region. “This aligns with France’s existing Indo-Pacific strategy, which prioritizes multilateralism and an inclusive approach to regional security, as outlined in Macron’s 2018 speeches,” said Geopolitique in a report.

Le Monde described the report as “a provocative blueprint for Europe’s future,” noting its potential to reshape EU foreign policy but warning of resistance from member states wary of distancing themselves from Washington. “The call for strategic autonomy is not new, but the explicit framing of the US as a constraining force is a bold departure,” the outlet editorialized.

Meanwhile, Le Figaro highlighted the report’s emphasis on China, questioning whether Europe could navigate such a pivot without alienating key allies like the US and Japan.

“This is a wake-up call for Europe to stop outsourcing its strategic destiny,” said Dr. Claire Dubois, a Paris-based analyst at the Institut Français des Relations Internationales (IFRI). “Partnering with China in the Indo-Pacific could diversify Europe’s options, but it risks underestimating Beijing’s own ambitions.”

Conversely, Professor Jean-Marc Fournier, a geopolitical strategist at Sorbonne University, argued that the report’s vision of dedollarization is “a long shot but a necessary one.” He added in an article at Ifri.org, “The dollar’s dominance has tethered Europe to U.S. policy whims. A common currency initiative could be a game-changer, though it faces steep political hurdles.”

The report’s central recommendation is a clarion call for Europe to achieve strategic autonomy by reducing reliance on the US and fostering partnerships with global powers like China. It builds on France’s longstanding advocacy for a multipolar world order, as articulated in the 2022 National Strategic Review, which called China a “systemic rival” but also emphasized dialogue to counterbalance its influence. The report’s authors argue that Europe must “offer an alternative to the bipolar confrontation” between the US and China, positioning itself as a mediator in global affairs.

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