Thu Mar 23, 2023 – 12:35 pm EDT
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(Reclaim The Net) — While plans to usher in centralized, government-controlled money are receiving some pushback in the U.S., the consensus in Europe seems to be in favor of introducing a central bank digital currency (CBDC), i.e., the digital euro.
And now the question is how exactly to proceed, including by determining strategic objectives.
In the eurozone – made up of the 20 (out of 27) EU members that have adopted the euro – merchants might find themselves under obligation to accept a future European Central Bank (ECB) digital currency.
READ: Federal Reserve announces July launch of central bank digital currency infrastructure
This is information from a paper that eurozone finance ministers were expected to discuss on Monday. The obligation proceeds from granting the EU CBDC the same status as cash, making it a legal tender.
The paper says that this course of action would make sure that the digital euro’s network effect and distribution are increased.
Another point the paper raises for ministers to debate is if there should be exemptions,
The remainder of this article is available in its entirety at LifeSite News
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