Turkeys will never vote for Thanksgiving/Christmas.
They will always try to engineer perpetual feeding.
But it should not be up to the turkeys to decide.
European banks want to torpedo the digital euro
11–14 of 14 posts
Re: European banks want to torpedo the digital euro
#12Imho a „digital euro“ (ie retail CDBC) will remain an utopia: Knowing who transfers money on the ledger of the central bank is very important for the central bank to remain credible. KYC is the banks job in this, so the bank takes the hit in fraud cases, never the central bank.
If central banks loose their face, their currency/country takes the hit.
Re: European banks want to torpedo the digital euro
#13There is already a limit on cash payments in the EU:
- €7,000 (US$7,645) max limit across the whole EU (€1,000 for crypto), down from €10,000 just 2 years ago (2 years of high inflation).
- Just €1,000 (US$1,081) limit in France and Italy.
They always blame AML/CFT but it's really just forcing payments into banks and credit card companies that can skim 1-3% of everything.
https://www.europarl.europa.eu/news/en/press-room/20230327IP...
Re: European banks want to torpedo the digital euro
#14There is already a limit on cash payments in the EU: - €7,000 (US$7,645) max limit across the whole EU (€1,000 for crypto), down from €10,000 just 2 years ago (2 years of high inflation). - Just €1,000 (US$1,081) limit in France and Italy. They always blame AML/CFT but it's really just forcing payments into banks and credit card companies that can skim 1-3% of everything. https://www.europarl.europa.eu/news/en/press-…
intra EU bank transfers cost much less than 1-3%.