Considering we are now in a trade war with the deranged lunatic fascist regime in the US, we in Europe need a real alternative to the American corporations Visa Inc. and Mastercard.
This needs to be ordered by the Commission or the Parliament to the ECB asap.
Also, a system this central & vital to the economy working ought to be arms-length owned and run by the ECB.

Europe needs a digital coin. Luckily #ECB is working on it: https://www.ecb.europa.eu/euro/digital_euro/html/index.en.html

Fortunately there exists algorithms which can support offline and anonymous transfers, while still being able to reveal the identity of a double spender.

#DigitalEuro is the way to go! #CryptoCurrency is not the future!

#EuropeanCentralBank Cuts Rates as #Inflation Cools

Policymakers who set interest rates for the 20 countries that use the #euro lowered rates in back-to-back meetings for 1st time since 2011.

#ECB lowered their key rate by ¼ pt, to 3.25%. The decision came 5 wks after a cut at the bank’s previous meeting, & on the day a report showed eurozone’s inflation rate slowing to 1.7% in Sept, falling below the bank’s 2% target for the 1st time in >3 yrs.

#GlobalEconomy #economy
https://www.nytimes.com/2024/10/17/business/ecb-interest-rate-cut-inflation.html?smid=nytcore-ios-share&referringSource=articleShare

"#Defense companies should have no restrictions when it comes to accessing #EuropeanUnion #funding and #mergers between companies should be permitted regardless of #competition concerns," according to a draft chapter the #competitiveness report of former European #CentralBank chief Mario #Draghi seen by #POLITICO."

Oldie by German Hendrik Beikirch aka ECB for ArtWalk 2019 in Patras, Greece #hendrikbeikirch #ecb #streetart #lamolinastreetart | photo via mysl.nl/mlVmF

The EU is working on a #DigitalEuro. The Commission already published its proposal last year, the #EUCouncil is currently discussing its version. But what are they talking about? I looked at working documents from recent months for @netzpolitik_feed.

A few points of discussion:

- The Commission proposed exemptions for transaction monitoring for offline transactions, because there is no anti-money laundering monitoring for cash either and that's the idea behind the offline Digital Euro. The documents show that #Italy, #Portugal and #Lithuania were sceptical with this idea.

- On the other hand, #France recently published a non-paper in which it calls for extending the exemptions to all "proximity" payments, so for example payments in stores. Why? Because users don't care about whether a payment is online or offline, they care about what situation they're trying to use the Euro in.

- Another topic is the "single access point" that the #EuropeanCentralBank #ECB would be able to open under the Commission's proposal. This, the Commission argues, is necessary to allow users to switch between payment providers. #Germany doesn't seem to be a big fan and wanted some further explanations.

https://netzpolitik.org/2024/eu-council-discusses-digital-euro-and-how-much-privacy-should-it-be/

Italian bank #UniCredit has filed a legal challenge questioning a European Central Bank order to reduce its operations in #Russia.

UniCredit, which has the second-biggest exposure to Russia among western banks, was one of several Eurozone lenders to receive a letter from the #ECB in May, ordering them to speed up their withdrawal from the country.

https://www.ft.com/content/e958ce2d-d9e0-4de4-b6ed-402a6816ef05

#Raiffeisen Bank International AG’s protracted effort to sell its Russian unit suffered another setback after the European Central Bank indicated it plans to order significant cuts to the business.

The ECB’s pressure may dash any hopes by Raiffeisen to exit its Russian business with money in hand. The subsidiary accounted for about half of Raiffeisen’s pre-tax profit last year.

https://www.bloomberg.com/news/articles/2024-04-18/raiffeisen-expects-ecb-will-ask-for-significant-russia-wind-down

#ECB #euro Markets now imply about 140bp of cuts this year, from about 130bp earlier. That means 5x 0.25% reductions are fully priced and there’s a 60% chance of a 6th , chart @economics https://www.bloomberg.com/news/articles/2024-01-25/traders-see-deeper-quicker-cuts-from-ecb-after-january-hold

Was wollen die #Kleptokraten aus Brüssel & Berlin machen, wenn ihr ungedecktes #Pyramidensystem zusammenbricht, weil die Menschen auf #DezentraleKryptowährungen ausweichen?

@Bundesregierung
@bmf
#ECB #EZB
#Bitcoin #BTC #Lightning
#Ethereum #ETH
#Monero #XMR

With the European Data Protection Board, we issued a Joint Opinion https://europa.eu/!QK4JTd & Press Release https://europa.eu/!Rg76B4 on the digital euro. We welcome this Regulation, but suggest improvements to ensure that individuals’ rights to #Privacy & #DataProtection are preserved.
#ECB #EUFinance