The launch of the digital euro could give every European a free, universal payment account. But this grand vision is at risk of being curtailed by a well-coordinated lobbying campaign of the banking industry. Banks want to make sure you will keep needing them – and they have EU officials’ ears.

The launch of the digital euro could give every European a free, universal payment account. But this grand vision is at risk of being curtailed by a well-coordinated lobbying campaign of the banking industry. Banks want to make sure you will keep needing them – and they have EU officials’ ears.

  • shrugalEnglish
    51·
    9 months ago

    “If [the] digital Euro can also be used for tax payments etc and general acceptance is mandated, a significant amount of their clients could do their full finances with the digital Euro and won’t need an account with a commercial bank anymore,” German cooperative bank lobbyists warned the Commission in one of the documents.

    Imagine “warning” them that their idea could have the desired effect!