• The BRICS alliance, expanding with new members like Egypt, the UAE, and Saudi Arabia, sees its currency as a global alternative to the US dollar, with countries from Africa, Asia, Latin America, and Europe interested in reducing reliance on the US dollar.
• While the US and EU remain opposed, South African BRICS ambassador Anil Sooklal confirmed European interest in joining BRICS, suggesting a potential shift in the global financial landscape.
• Despite the interest, Europe’s alignment with the West and concerns over Russia and China’s roles in BRICS could inhibit European nations from joining the alliance, as the bloc continues to push for de-dollarization and its own currency in response to a world “tired” of the US dollar.

Imagine a world where dependence on the US dollar is a thing of the past. That’s the vision BRICS countries are creating with their currency ambitions. With Europe’s growing interest in this financial shift, the question arises: Will Europe embrace the BRICS currency come 2024?

Prospects of European Acceptance of BRICS Currency

• BRICS aims to challenge the dominance of the US dollar.
• European nations have shown interest in joining BRICS.
• The expansion of BRICS includes influential countries like Egypt, the UAE, and Saudi Arabia.
• Acceptance of BRICS currency in Europe could signal a major shift in global financial power.

European Interest in BRICS

• South African BRICS ambassador Anil Sooklal hints at European nations interested in BRICS.
• Despite no formal invitations yet, the possibility remains for Europe to join BRICS in 2024.
• A global financial change is brewing, with BRICS at the forefront.

The Dilemma for Europe

• Europe’s alignment with the US and EU may conflict with joining BRICS.
• Russia’s war in Ukraine and China’s tensions with the West deter European BRICS membership.
• The potential for the first European nation outside of Russia to join BRICS exists despite these challenges.

De-Dollarization and the BRICS Currency

• BRICS countries are actively working towards de-dollarization.
• The alliance is not self-serving but responds to global frustration with the US dollar’s dominance.
• Discussions about a BRICS currency have been ongoing throughout the year.

As the BRICS alliance continues to invite new members, the world watches to see if Europe will step into this evolving financial landscape. With the current geopolitical tensions and the allure of an alternative to the US dollar, 2024 could be the year we witness Europe making a pivotal decision on currency alliance.