The Euro: Power without Autonomy?

Main question: Why has the euro’s monetary power not translated into full EU strategic autonomy?

Argument: While the euro functions as a growing geoeconomic tool (sanctions, trade, finance), its impact is constrained by EMU’s incomplete architecture, dollar dominance, and fragmented political and financial integration.

Conclusion: Without deeper fiscal, financial, and political union, the euro cannot fully rival the dollar or deliver true strategic autonomy.