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Stable governance and a business friendly enough environment (SAP is the most valuable company in Europe currently, for example; business can be done there). Even with populism and right wing extremes popping up there, I’m more confident in Europe staying on the rails vs the US (as it relates to currency stability).


Huge portions of the European economy are backed by a strong USA, and that doesn't include NATO/defense subsidies.

Unless they're paying Russia for energy, they're buying oil and LNG in dollars.




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