Digital euro for the ECB: a complement and not a substitute for cash

European institutions are opened to cryptocurrencies?

It is a complement and not a substitute for cash

Digital euro for the ECDigital euro for the ECB: a complement and not a substitute for cash

European institutions are opened to cryptocurrencies?

In November 2019, the European Central Bank published a report on the issuance of a digital central bank currency (CBDC), which was then presented to the public for comments. On September 10, 2020 Mrs. Lagarde announced that there would be a consultation on the idea of issuing a digital currency in the coming weeks.

It is a complement and not a substitute for cash

The President of the European Central Bank, Christine Lagarde, spoke at an online meeting of the Franco-German Parliamentary Assembly on September 21. Any digital currency put into circulation in the European Union cannot completely replace the euro, including the Central Bank Digital Currency (CBDC) under development according to Lagarde.

A powerful adverstisement for Bitcoin

On September 10 2020, the European Central Bank also announced that it would not change the ECB’s impression of stimulus money, and interest-free loans to businesses seem destined to continue, as it announced that it would make no immediate changes to increase inflation or to modify its pandemic relief program, which remains at a total of 1.35 trillion euros.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Magna Numeris

Magna Numeris is a startup developing solutions for cryptocurrency users, pushing the boundaries of conventional platforms to help grow the peer-to-peer economy