The Association of German Banks acted in support of the digital euro

The Association of German Banks, which includes more than 200 private banks, published a document describing the explicit economic advantages of using a digital euro.

It says that only states must be responsible for the monetary system, and any currencies with which banks and business work should fit into it, or otherwise chaos will come. Therefore, the Association argues in favor of a digital euro as part of a pan-European payment system with uniform identification standards and legal norms.

According to banks, programmable digital money has significant potential, and with the right organization can be an important element of the further development of the EU in the field of digitalization. At the same time, they are confident that the new form of money will be in demand and will not jeopardize the current currency systems of countries.

At the same time, the Association of German Banks believes that the Libra Facebook Stabosoin will be a competitor of key currencies in the world, as well as the cause of economic and political conflicts. Therefore, calls on the authorities of countries to prevent such rivalry.

In addition to banks, earlier the idea of digitizing the euro for the development of the financial system of the region and the protection against Libra also supported ministers

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