no oil will not be traded in euros soon. simple because the EU has no interesst in a financial doomed USA.
Some already has.
Iran acts on non-dollar oil transactions
http://www.presstv.ir/detail.aspx?id=31812§ionid=351020102
On the macroeconomic level, close to all of our oil transactions are being conducted in non-dollar currencies, the official said, adding, "Less than 20% of the transactions is being done in the Japanese currency, yen, while the payments for the rest are being made in the EU currency, euro."
In further clarification of the subject, Ghanimifard pointed out that currently the National Iranian Oil Company (NIOC) was receiving more than 80% of the payments for its oil exports in non-dollar currencies.
“oil will not be traded in euros soon. simple because the EU has no interesst in a financial doomed USA.”
I would not write the obituary for the U.S. economy just yet. Neither EU, nor any other country, is in any position to get into the driver’s seat.