The BRICS alliance is preparing to introduce a new currency to compete with the US dollar and the Euro on the global stage. Sergey Glazyev, former advisor to the President of Russia, recently confirmed that the BRICS currency is on the verge of being launched.
There are indications that the alliance may unveil the currency during the 16th
summit in 2024. This development aligns with Germany's proposal to introduce a
digital Euro as a strategy to counter other currencies in the market.
Beyond Germany, European legislators are exploring the creation of national digital currencies to adapt to the evolving financial landscape. Over 150 countries are actively working on Central Bank Digital Currencies (CBDCs), with several nations already initiating pilot programs this year. This article will examine whether Germany intends to introduce a CBDC to rival the emerging BRICS currency.
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