Issuing digital euro, or ‘Money+,’ might be an obligation, French central banker says

The digital euro holds one thing in retailer for each stakeholder, Governor of the Banque de France François Villeroy de Galhau advised industrial bankers on June 22. Disintermediation is just not within the works, he stated on the World Official Establishments Convention hosted by French multinational financial institution BNP Paribas (OTC:).

Earlier than addressing the euro central financial institution digital forex (CBDC), Villeroy de Galhau started with an evidence of why the banking disaster earlier this 12 months didn’t have an effect on the eurozone. He credited European regulation and supervision for protecting its banking system protected. He famous, nonetheless, that the acquisition of Credit score Suisse by UBS “raised new questions” about dependable disaster decision. “The framework for the ECB to offer ‘Eurosystem decision liquidity’ has but to be constructed,” he stated.

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