Greece is likely to issue new parallel blockchain-based currency that will help the government to overcome the financial crisis.
Villeroy de Galhau touched on not only the e-euro but also the banking crisis and its consequences for the eurozone.
As inflation slows, the European Central Bank (ECB) may halt future rate hikes, with the upcoming staff projections and rate decision playing a crucial role in determining the bank’s approach.
On Thursday, the ECB increased interest rates for the seventh consecutive time, with the latest figure aligning with analysts’ predictions.
The agency emphasized the fact that the private sector has a huge role to play in its vision for Europe’s digital ecosystem.
After much thought, the ECB has increased interest rates by 50 basis points to stem sustainably high inflation.
Fed Chairman said that cryptocurrencies don’t have any major implications on the US financial system so far. However, Chairman Powell demanded a stronger regulatory framework.
According to ECB President Christine Lagarde, the CBDC Euro plan is still in its nascent stage and the completion could take up to 4 years.
The initiative by the ECB to seek public participation means that the digital euro if developed, will not be used only by banks.
The 750 billion euros EU recovery fund is said to include 500 billion euros in grants and 250 billion euros in loans.
When confidence in a currency is lost, investors turn to another currency or, say, gold. In the examples of countries that have been well shaken by the financial crisis, we can see how their population has turned to invest in Bitcoin.
With Europe turning as the epicenter of the COVID-19 outbreak, the European Central Bank has pledged $820 billion as part of the fiscal stimulus measures. Other central banks of France, U.K, and Germany are working on similar lines.
The economy of the euro zone is being brought down on its knees in a historic measure due to the ongoing coronavirus outbreak. In response to the coronavirus pandemic, the Olympic Games in Tokyo have been pushed forward for another year.
Dow Futures, as well as the market in general, are very unstable these days. The ECB announced a new Pandemic Emergency Purchase Programme to support the European economy.
Bitcoin (BTC) price rebounds after central banks of several countries announced their support to markets and promised to provide the help needed to protect the global economy.
The group of the biggest world’s banks led by the Bank of England will investigate the economic benefits of a central bank digital currency (CBDC).