US free Europe? EU chief Leyen invokes 1971 ‘Nixon shock’ in Davos; what it means

Jan 21, 2026 - 14:00
US free Europe? EU chief Leyen invokes 1971 ‘Nixon shock’ in Davos; what it means

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At the World Economic Forum, European Commission president Ursula von der Leyen referenced the 1971 "Nixon shock" to urge Europe to leverage current geopolitical disruptions as a catalyst for change. She highlighted the event's lesson on reducing dependency on foreign currencies, advocating for a new form of European strategic autonomy.

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