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“It is necessary for ECB to introduce a digital euro”, says Philip Lane, the European Central Central Central Economist a new language. Earlier last month Paschal Donohoe, president of Eurogroup with financial ministers, SAY to a “raised level of urgency” in progress in a digital currency. Beware. These words indicate that even as Donald Trump’s tariffs have earned most of European attention, some Europeans are alert to the next Geecoeconomic Front: A US pushing to binding the power of international payments.
They are right to worry. Includes Trump Exective Orders deer Encourage worldwide use of private issued “stabersoins” denominates in US dollars. There is all the reason for expecting to put the muscles. His administration was set to people involved in the business of paying technology, such as Elon Musk (which was first hit by Paypal) and Howard Lutnick (who had CHALLENGES in tethere with stablecoin struffer). These returns cannot see the eye that looks old in charge of many, but they agree to power and income from the US control of global payment.
That system is in the Cusp of great change, for political and technology reasons. Dollar-based weapon system – note how to cut access to swift message enemies for bank transfers – evokes searching for alternatives. Ideas include a currency and payment system powered and for Brics countries. Technologies such as stabecoin offers, cheap and 24/7 alternatives to expensive, slow and compatible heritage of caachers in cazertent banking.
So the fight for the rule of the future payment system is – and wants the US to win. Europe’s wider public can be poorly unknown. But the eurozone in charge is also determined that this battle is for the control of economic technology one that does not disappear. This is the basic motivation for digital euro – an officer issued by the bank bank that, if done well and fast or warm up the beauty of lighar stabento.
Without it, Europe is facing the dangers we know about some time – since the bad 2019 Facebook suggestion for “pound” electronic currency. Even before that, Europe discovered that when Trump puts the penalties in Iran, Europe does not work out that we have banking banks that we do not have banking banks we do not have banks we have not set up banks we do not have the banks we do not have the banks Banks we don’t set up banks we don’t set up banks we don’t set up banks we don’t set up banks we don’t set up banks we don’t set up banks we haven’t set up banks we don’t set up banks we don’t set up banks we don’t set up banks we don’t set up banks we don’t have the banks we haven’t been putting on banks we don’t have the banks we haven’t processed banks we don’t have the banks we haven’t processed banks.
The fact is that the eurozone is already shocked to depend on American payment mechanisms. Some three-thirds eurozone card payments are processed by non-European card providers, as ECB; 13 in 20 countries using euro there are no payment card payment systems. In cases, “If you go to buy milk, it (physical) cash or visa / mastercard”, as a central central bomb placed it. This trust has been replicated by the fast spread of mobile apps.
If the US stabers have received widespread use, the last risk is “Digital Dollarisation”, where dealers encourage buyers and sellers in tokens. It weakens control of a central bank of domestic financial conditions.
It’s all ignored by the Digital Euro projects project as a solution to finding a problem. But the signs are that their ranks are reduced. So far, the digital euro project is defense, should be the mother of invention, but it is accepted. However, positive arguments are also avoided for digital euros. One is the simple idea that if a local digital payment technology, practical free, can replace providers to pay the transaction activity of economic activity and eurozone activity.
One else is that a digital euro can compete with dollar stabents for international business. How it will be linked to non-euros money viewed by the ECB. But it should go away. The retail model is currently reflected, with a limit to the lower thousandth of what digital euro wallets can (to avoid users who need countries in the cross-border supply, for example.
But the most important benefit is a digital infrastructure for automated digital contracts – Rails “ensured a newly new tech economy. This is an opportunity for Europe to make the europeans. The time for a digital euro today.
