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ECB’s Lagarde Advocates for EU's Own Digital Payment Platform to Ensure Financial Sovereignty

European Central Bank (ECB) President Christine Lagarde has urged the European Union to develop its own digital payment platform, moving away from reliance on foreign giants like Visa, Mastercard, Paypal, and Alipay. She linked this initiative to the broader goals of the Capital Markets Union (CMU), which aims to create a unified capital market across EU member states, potentially unlocking up to €3 trillion in annual economic value. Lagarde argued that deeper fiscal integration could alleviate pressure on monetary policy and lay the groundwork for a future fiscal union, with estimates suggesting that enhanced integration could contribute over €2.8 trillion to the EU’s GDP by 2032.

ECB’s Lagarde Advocates for EU's Own Digital Payment Platform to Ensure Financial Sovereignty

European Central Bank (ECB) President Christine Lagarde has urged the European Union to develop its own digital payment platform, moving away from reliance on foreign giants like Visa, Mastercard, Paypal, and Alipay. She linked this initiative to the broader goals of the Capital Markets Union (CMU), which aims to create a unified capital market across EU member states, potentially unlocking up to €3 trillion in annual economic value. Lagarde argued that deeper fiscal integration could alleviate pressure on monetary policy and lay the groundwork for a future fiscal union, with estimates suggesting that enhanced integration could contribute over €2.8 trillion to the EU’s GDP by 2032.

https://news.bitcoin.com/ecbs-lagarde-advocates-for-eus-own-digital-payment-platform-to-ensure-financial-sovereignty/