CBDC: European Central Bank exec worries digital euro may hurt foreign currencies
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ambcrypto.comCrypto investors know well by now that institutions like the European Central Bank [ECB] are suspicious of stablecoins and often warn of their risks.
On 10 December, Fabio Panetta, an executive board member of the ECB delivered a speech that rehashed these familiar talking points. However, Panetta also revealed some new and intriguing insights about what the digital euro might do to non-EU economies.
After reviewing the need for a CBDC, Panetta expressed concern that a digital euro that could be used by non-EU residents might batter weaker foreign currencies. He said,
“Second, the digital euro could spread in third countries to the extent that it would crowd out local currencies, leading to a digital “euro-isation”, which could hamper the
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