German Finance Minister Supports Digital Euro, But ‘Very Critical’ of Libra
Germany’s federal finance minister has come out in support of digitizing the euro, but is against private currency projects like Facebook’s Libra.
Speaking with l ocal business news source Wirtschafts Woche, Minister Olaf Scholz said he remains “very, very critical” of Libra. However, an e-euro would be good for Europe’s financial system, particularly in the wake of economic globalization.
“Such a payment system would be good for the [European] financial center and its integration into the world financial system,” Scholz said. “We should not leave the field to China, Russia, the U.S. or any private providers.”