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European banks are scared of the digital euro. Here's how their secret lobbying could torpedo it (www.ftm.eu)

submitted 8 months ago by Vincent@feddit.nl to c/europe@feddit.de

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The launch of the digital euro could give every European a free, universal payment account. But this grand vision is at risk of being curtailed by a well-coordinated lobbying campaign of the banking industry. Banks want to make sure you will keep needing them – and they have EU officials’ ears.

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[-] shrugal@lemm.ee 51 points 8 months ago

“If [the] digital Euro can also be used for tax payments etc and general acceptance is mandated, a significant amount of their clients could do their full finances with the digital Euro and won’t need an account with a commercial bank anymore,” German cooperative bank lobbyists warned the Commission in one of the documents.

Imagine "warning" them that their idea could have the desired effect!

this post was submitted on 29 Feb 2024

104 points (95.6% liked)

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