From Payments to Data, Washington Holds Europe’s Levers—Brussels Must Cut the Cords.
Europe’s financial autonomy still rests on foundations it doesn’t fully control. From payment networks to clearing systems to the dominance of the U.S. dollar in
Visa and Mastercard Control 80% of EU Card Payments. Brussels Needs an Alternative.
Europe’s payment system runs on borrowed infrastructure. Every time a European taps a card, two American corporations—Visa and Mastercard—sit in the middle of the transaction.