Europe financial system

euro digital currency

The ECB Warns That A Digital Currency Would Have Serious Effects For The Financial System

If the European Central Bank (ECB) were to introduce a digital currency for citizens, with the possibility of them being able to open deposit accounts directly with the institution, it would undermine the role of the banking sector as an intermediary. This disintermediation would lead to legal problems and economic inefficiencies, stated Yves Mersch, Luxembourg’s representative on the ECB’s board.