🧵 To safeguard financial stability, we need to keep central bank money at the heart of the financial system, Executive Board member Fabio Panetta tells @LesEchos. A digital euro would allow Europeans to pay anywhere in the euro area free of charge.
https://www.ecb.europa.eu/press/inter/date/2023/html/ecb.in230524~c2d729b46a.en.html
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Panetta on payments and a digital euro: a digital euro would provide a platform for European financial intermediaries to offer innovative payment services across the entire euro area. This would foster competition and innovation
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Panetta on privacy and a digital euro: the ECB wouldn’t have access to personal data.
For financial intermediaries distributing a digital euro, the legislator would strike a balance between ensuring data confidentiality and combating money laundering and terrorist financing
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Panetta on Europe’s future progress: If we, as Europeans, want to continue to play a role on the world stage, we need to act together.
A European fiscal policy that complements our monetary policy would help us avoid many tensions and imbalances.
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🐦🔗: https://n.respublicae.eu/ecb/status/1661244062102622209