Securing Europe's strategic financial sovereignty

In an increasingly fragmented global economy, financial systems are no longer just neutral infrastructure and channels of exchange but have become instruments of power. Influence on the flows of capital, payment systems and financial market infrastructure now not only shape economic outcomes but also translate directly into geopolitical influence.

For the European Union, this shift creates a structural challenge. Europe is deeply integrated in the global financial system but key nodes of that system are controlled or influenced by external actors. Europe’s asymmetrical dependencies on third-country actors in the financial system expose it to potential external pressure and shocks that threaten the internal market. As past developments have shown, access to financial infrastructure cannot be taken for granted. It can be restricted, conditioned, or weaponised from the outside.

This raises a fundamental question: how can the EU secure its capacity to act independently, absorb external shocks and safeguard the stability of the financial system in a world where financial dependencies can be used as strategic leverage?