9 commercial EU banks are gonna touch tips to make a company based in Amsterdam.

That company will issue a Euro stablecoin.

The ECB is all like 🤬

Mother superior Lagarde says "Stablecoins not issued by a central bank pose risks to monetary policy and financial stability"

She wants the ECB to issue the stablecoin.

The commercial banks reply with 🤬

They believe that the ECB digital euro will empty their deposit accounts as people migrate over to the EU digital wallet.

The longer they argue, the more time the US stablecoins get to run roughshod over the European market.

Poor commerical banks, poor Lagarde, I hope they can come to some agreement soon, the europeasants hate to see you fighting so!