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MNI BRIEF: Euro CBDC Instability, 'Colonisation' Defence Tool

(MNI) LONDON
(MNI) Frankfurt

The introduction of a digital euro would protect the stability, efficiency and transparency of the financial system, while asserting the European Union’s sovereignty in the monetary and financial fields and safeguarding it’s political and strategic autonomy, ECB Executive Board member Fabio Panetta said in a speech Friday.

Further global regulation is needed to prevent the uncontrolled development of decentralised digital finance in particular, he said, adding: “The “colonisation” of the European payments system is not an imminent danger. But nor is it a remote one, given the speed at which digital finance is changing.”

MNI London Bureau | +44 20 3983 7894 | luke.heighton@marketnews.com
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MNI London Bureau | +44 20 3983 7894 | luke.heighton@marketnews.com
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