this post was submitted on 08 Aug 2023
80 points (100.0% liked)

Europe

8324 readers
3 users here now

News/Interesting Stories/Beautiful Pictures from Europe 🇪🇺

(Current banner: Thunder mountain, Germany, 🇩🇪 ) Feel free to post submissions for banner pictures

Rules

(This list is obviously incomplete, but it will get expanded when necessary)

  1. Be nice to each other (e.g. No direct insults against each other);
  2. No racism, antisemitism, dehumanisation of minorities or glorification of National Socialism allowed;
  3. No posts linking to mis-information funded by foreign states or billionaires.

Also check out !yurop@lemm.ee

founded 1 year ago
MODERATORS
poVoq@slrpnk.net
80
From Athens, the ECB will announce the digital euro – How it will work (hellas.postsen.com)
submitted 1 year ago by sv1sjp@lemmy.world to c/europe@feddit.de
26 comments fedilink hide all child comments
you are viewing a single comment's thread
view the rest of the comments
[–] tal@kbin.social 8 points 1 year ago* (last edited 1 year ago) (1 children)

With a digital euro, you can safely stash away your money without having allowing private banks to make a profit out of it.

According to OP's article, the ECB is specifically aiming to make the digital euro not viable for storing a bunch of money, so I don't think that that's a target use case.

Sources with knowledge of the procedures explain to Capital.gr that the digital euro will take the form of a wallet that citizens will “load” with euros from their bank accounts. This means that the role of commercial banks is not canceled with the launch of the single digital currency, but they will still be an important part of the ecosystem.

For this reason, it is being considered to introduce a ceiling on the liquidity that citizens will be able to maintain in digital euro, in the order of 2,000 or 3,000 euros per user. The goal is for the digital euro to be used purely as a means of exchange and not as a means of accumulating wealth.

[–] Resethel@lemmy.world 1 points 1 year ago

Indeed, I remembered when the ECB first talked about it (2-3years ago) and I read the article diagonally.

But it still, most people could get rid of their cash bank account as most people earn less than 3k€net per month and just keep a saving account.

All in all, I’d still argue it’s a not-so-bad initiative, especially for small businesses who pay a hefty fee per transactions