European Central Bank Exec: Euro Superior to Alternative Methods of Payment Like Bitcoin
Speaking at the 2014 Bargelsymposium (cash conference) in an address to the Deutsche Bundesbank, European Central Bank executive board member by the name of Yves Mersch stated that the Euro would remain a strong and globally-accepted method of payment. This comes as bitcoin continues to gain attention, with more and more businesses turing to it as a solution to avoid exorbitant fees from card processors, among other things. Euro banknotes and coins are a method of payment of stable value, acceptance of which is compulsory, and thus they are superior to alternative methods of payment. Now,....
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European Central Bank (ECB) executive board member Yves Mersch said during a speech on 19th May that as a payment system and a store of value, the euro is superior to digital alternatives like bitcoin. Mersch was speaking at Cash Symposium 2014, a day-long event held in Frankfurt on 19th May by the Bundesbank, Germany's central bank. His talk focused on euro banknotes and their performance, and their characteristics as a system of payment. Touching upon digital currencies as an emerging payment method, Mersch remarked that a lack of significant transaction fees makes them attractive to....
The European Central Bank should rely on public-private cooperation for issuing a digital euro, an exec at BBVA’s digital regulation team said. An executive at major Spanish bank Banco Bilbao Vizcaya Argentaria (BBVA) has raised concerns about the digital euro and questioned what customer demand it would meet.Pablo Urbiola of BBVA’s digital regulation team has called on European financial authorities to carefully explore the possible issuance of a central bank digital currency (CBDC).Urbiola said Friday at a European Banking Federation seminar that, despite the increasing need for a....
A digital euro would not replace cash, but complement it, says the European Central Bank. The European Central Bank launched a public consultation on a potential digital euro on Oct. 12. Developments on the central bank digital currency front in the Eurozone have picked up pace amid the COVID-19 pandemic, and the central bank has framed its introduction to the public consultation with the claim that the issuance of a CBDC could help "cushion the impact of extreme events — such as natural disasters or pandemics — when traditional payment services may no longer function." Earlier this month,....
An executive member at the European Central Bank says a digital euro could protect the Eurozone's monetary sovereignty from outside influence.
President of the European Central Bank Christine Lagarde took to Twitter earlier to announce that the European Central Bank has decided to move up the investigation phase for the euro digital currency. The tweet comes in response to a tweet from the European Central Bank official Twitter handle, announcing that the institution would launch a […]