Panetta advocated the benefits of a digital euro, calling 'public money' safer 💶 He contrasted this with stablecoins and pointed out the risk of bank runs, such as in the case of $UST 👀
As such, crypto bulls will not be impressed by theof Fabio Panetta, a member of the executive board of the ECB, at the National College of Ireland.
In his speech, Panetta went into the role of public money and private money . He stressed that surrendering the field of payments to non-European payment providers increases the risks to Europe's strategic autonomy and threatens its monetary sovereignty.
Ultimately, a digital euro could be a solution for European countries — it would raise strategic autonomy, offer a free means of payment for everyone, and help smaller intermediaries integrate with digital payment systems.
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