Community

The ECB should focus on building the Digital Euro as a wholesale digital currency thus giving an alternative to the market for interbank transfers today using the T2 system. This would give the corporates and financial institutions a new way of exchanging value 24x7. The ECB present work with the retail Digital Euro is competing with the brand-new legislation on real time payments for all bank accounts in Euro to both send and receive real-time payments, that kicks in in full in October 2025. The problem with the whole-sale approach is that it would outcompete the T2 provided by the ECB itself while the retail approach will attempt to  outcompete the commercial banking payment system built for rweal-time payments and also tap monies från deposit accounts in commercial banks. The retail digital Euro will hit hardest the Euro area savings banks, cooperative banks and raiffeisen banks with large consumer and SME customer bases. The ECB as an over-state operator seeks to torpedoe the non-profit cooperative banks in the Euro area right after the EU Parliament forced banks to build a real-time 24x7 payment system usable for all payment accounts in the Euro area...  And this because the ECB is still afraid of that Europeans will abandon the Euro in favour of the Facebook cancelled digital currency and the Chinese digital Yuan?