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.

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.

  • misk@sopuli.xyzEnglish
    0·
    9 months ago

    This is confusing, doesn’t EU mandate a free / basic tier of banking account already? And isn’t pretty much every currency digital too?

    Public payment processor is a pipe dream though. Someone has to do AML, insurance. Free wire transfers are subsidized by other revenue streams.

    • maynarkh@feddit.nlEnglish
      1·
      9 months ago

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