Europe

8485 readers

1 users here now

News/Interesting Stories/Beautiful Pictures from Europe 🇪🇺

(Current banner: Thunder mountain, Germany, 🇩🇪 ) Feel free to post submissions for banner pictures

Rules

(This list is obviously incomplete, but it will get expanded when necessary)

Be nice to each other (e.g. No direct insults against each other);
No racism, antisemitism, dehumanisation of minorities or glorification of National Socialism allowed;
No posts linking to mis-information funded by foreign states or billionaires.

Also check out [email protected]

founded 1 year ago

MODERATORS

[email protected]

104

European banks are scared of the digital euro. Here's how their secret lobbying could torpedo it (www.ftm.eu)

submitted 8 months ago by [email protected] to c/[email protected]

24 comments fedilink hide all child comments

The launch of the digital euro could give every European a free, universal payment account. But this grand vision is at risk of being curtailed by a well-coordinated lobbying campaign of the banking industry. Banks want to make sure you will keep needing them – and they have EU officials’ ears.

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 6 points 8 months ago* (last edited 8 months ago) (1 children)

It technically could be subsidized by taxes. Not saying if that's good or bad.

[–] [email protected] 3 points 8 months ago

There's a catch here. Large amount of AML regulations imposed on banks is an indirect form of taxation, even if it wasn't the original goal. Banks have to do bulk of investigative work that makes sense to do there. To do that they have to employ crapload of people (in Poland, Hungary, Estonia etc). I'm not sure individual governments or EU want to get into that because they could turn out to be less competitive than private sector which has no qualms with outsourcing / offshoring as much as possible.