a great idea and move that's long behind the time it should have been made;

In a firm display of confidence, German Foreign Minister Heiko Maas called for the creation of an independent payment system that doesn’t rely on the U.S. dollar.
Citing the Financial Times, a Zero Hedge report quoted Maas (emphasis ours):

Europe should not allow the US to act over our heads and at our expense. For that reason it’s essential that we strengthen European autonomy by establishing payment channels that are independent of the US, creating a European Monetary Fund and building up an independent Swift system…

The report continued, stating Europe no longer wants to be a “vassal state” to the global currency monopoly the U.S. has enjoyed since 1944 when the Bretton Woods agreement was put into place.

In light of the Foreign Minister’s proclamation, the dollar’s domination may well be coming to an end.
For decades, the dollar has been the most circulated currency in the world, with $580 billion located outside of the U.S. That, combined with the general strength of the American economy, has put the dollar in first place.


http://www.investmentwatchblog.com/germany-aims-to-dethrone-u-s-dollar-as-central-payment-currency/