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⚡️🇪🇺 NEWS - ECB Chief Economist Philip Lane believes that the digital euro is necessary to counter US dollar-indexed stablecoins.

"The availability of the digital euro would limit the likelihood of foreign currency stablecoins gaining a foothold as a medium of exchange in the eurozone."

He pointed out that 99% of the stablecoin market is made up of tokens indexed to the US dollar.

"The digital euro would provide a secure and universally accepted digital payment option under European governance, reducing dependence on foreign suppliers."

The prevalence of electronic payments using Apple Pay, Google Pay and PayPal "exposes Europe to risks of economic pressure and coercion".

"The digital euro offers a unique opportunity to overcome the persistent fragmentation of retail payment systems in the eurozone."
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deeznuts 9mo ago

Retardation is a Hell of a Drug

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Prisoner24601 9mo ago

Oh no here's a problem we happen to have a shiny solution here already. Won't work though, USD will become global and EU will just try to "ban" it in Eurozone.

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fletch 9mo ago

What he's saying is correct though. They will be able to fully regulate where the digital euro is spent, decreasing the likelihood of euros going to better money. Sucks to be a European RN.

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deeznuts 9mo ago

Fuck. THAT. Shit.

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SuiGenerisJohn 9mo ago

What's polymarket got the odds of EU collapse by 2030?

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deeznuts 9mo ago

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jgbtc 9mo ago

Hopefully his boss was right when she said if there is an escape that escape will be used. It will involve the black market but if people are desperate they'll find a way.