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ECB President Pushes for a Central Bank Digital Currency

Published 01/09/2020, 12:05 PM
Updated 01/09/2020, 01:41 PM
ECB President Pushes for a Central Bank Digital Currency

The president of the European Central Bank (ECB), Christine Lagarde, supports the bank’s active involvement in the development of a central bank digital currency (CBDC) to address the demand for faster and cheaper cross-border payments.

In an interview with French business magazine Challenges published on Jan. 8, Lagarde discussed the most likely threats to the global economy in 2020, among which she named a downturn in trade and a range of uncertainties, geopolitical risks and climate change. Going further, Lagarde noted that “the EU is still the most powerful economic and trading area in the world, with enormous potential.”

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