Source: https://bsky.app/profile/katie0martin.ft.com/post/3mcpsqmprjx25
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this post was submitted on 19 Jan 2026
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Can we just add the trillions in euros to EUs bank account and tell the US they don't have to pay us back?
You don't even need to add them. After all, that money doesn't physically exist. It's just an annotation on a contability book. Just erase it and the debt is no more. If the world decides to "erase" those debt annotations on their contability books, the US debt stops existing.
And no one would buy US bonds if they just cancel their debt. So their economy would collapse.
But.. we do want the money they owe us back right? Just not in worthless dollars.
He owes us money because a paper says so. If we decide that paper has no value, we can simply act as if the money he owes us is ours again, since it's just a contability annotation.
I think this could be a potential play in a 2nd American Civil War. The EU and others can delay or restructure the debt of the Blue Union, while refusing to do any sort of trade with the Red Confederacy.
I mean, the Blue Union isn't particularly great either, it's just the lesser of two evils.
Personally, I would prefer a new nation, wholly progressive and garbed as a Green Democracy to separate it from the old guards. Hopefully, this...everything, has an emerald lining at the end.