October 25, 2020

German Finance Minister supports digital euro issue

German Finance Minister supports digital euro issue

German Finance Minister Olaf Scholz supports the digitization of the euro, but against private cryptocurrency projects.

In a recent interview, he said that digitalThe euro will be useful for the European financial system and will facilitate interaction with the global economic system. Adding that the EU should not leave this area to China, Russia, the United States or private companies.

He also touched on Libra, saying that the right to issue currencies should belong exclusively to states, and not to private entities. This point of view also adhere to the authorities of France, the UK and the USA, putting pressure on employees and partners of Facebook.

Such methods are effective because some members of the Libra Association are considering stopping cooperation, and PayPal has already announced its withdrawal.

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