Christine Lagarde, the leader of the European Central Bank, is on a mission. She’s calling for a revolution in digital payments, one that breaks free from the shackles of foreign giants like Visa, Mastercard, and PayPal.
It’s time for Europe to take control of its financial destiny. It’s time for European shackles for European residents.
American third party service bad, European third party service good?
Imagine every time you swipe your card or tap your phone, your transaction is routed through American or Chinese servers.
That’s not just a matter of convenience, but it’s a vulnerability. Lagarde is probably right, Europe needs its own digital payment platform to ensure financial sovereignty.
Remember how Europe learned its lesson with energy dependence? Well, it’s time to apply that same wisdom to payments.
Numbers
But this payment initiative is part of a bigger plan. The Capital Markets Union wants to create a unified capital market across the EU, potentially unlocking €3 trillion in economic value annually.
That’s a future where businesses thrive and citizens have better savings options.
Deeper fiscal integration could ease the pressure on monetary policy and pave the way for a future fiscal union.
The estimates are promising, over €2.8 trillion added to the EU’s GDP by 2032.
CBDC
And here’s the cherry on top, the ECB is working towards a digital euro, with preparations set to wrap up by October 2025.
It’s allegedly a symbol of Europe’s commitment to financial independence, but critics say it’s nothing but a slavecoin, a weapon of the financial tyranny.
It’s about ensuring that payments are under the European elite’s control, available to all who qualified and permitted, anywhere, and anytime.
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