France's central bank governor called on Tuesday for the creation of a Euro...
FILE PHOTO: European Central Bank policymaker Francois Villeroy de Galhau, who is also governor of the French central bank, attends the Paris Europlace International Financial Forum in Tokyo, Japan, November 19, 2018. REUTERS/Toru Hanai
Bank of France Governor Francois Villeroy de Galhau said that innovation in financial tech and by big tech firms meant payments was no longer a “mere boring back-office technicality”. “Furthermore, the growing role of non-European digital firms — be they American or Chinese — offering payments solutions should be taken seriously,” he said.
Facebook’s recent announcement that it aimed to introduce a new digital currency was a new wake-up call to the European financial industry and regulators, wary that Europe would be once again left without its own home-grown solution.
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