Good news: ECB delays CBDC launch to 2029

[coupable]

Do you think which one is better? Having Ukraine as a neighbor ally? Or annex it partially/totally and benefit from all its resources? Zelensky offered the best gift to Russians to expand its space of influence, especially in borders with the west pole.

It's not a new scenario that big powers work to build empires. This is commun to happen during civilisations history. If there are no Trump no Putin, there should be other leaders working for the same goals. i don't see they are crazier than Hitler.

None of these will happen as Putin lived in his dream that is unrealistic and he failed to occupy and annex Ukraine within 3 or 7 days. Now it is almost four years and through this bloody and expensive war against Ukraine, with time and abundant human loss, he already made the Ukrainians mostly turn to very hate Russia.

There are no proof that Putin goal is to annex the whole country or to re-build the Soviet Union again. Who told you that Russia wants to annex Ukraine in 7 days?
First goal was to stop NATO from expanding on its neighboring as Ukraine announced its ambitions to join NATO, then found it an opportunity to annex some states and benefit from its resources. It was the west who started the war by encouraging poor zelensky to challenge Russia and run a proxy war against it. Now see the result.

[Free Market Capitalist]

A weak dollar is nonsense.

Lol. It's not so much nonsense; a weakened currency favors exports and, more importantly, inflates the debt away.

And a weak dollar means a strong Euro, making European goods particularly expensive for the US. This is again a problem for the EU, whose exports to the US constitute the backbone of their economies.

Well, in any case, it will be nonsense from a European point of view.

Trump's plan to weaken the USD will be a wish come true for the EU. I understand the US President wants to make domestic manufacturing (exports) cheaper. But doing such a thing, will undermine the USD's ability to serve as the world's reserve currency.

The status of reserve currency is in question for other reasons, not because of a slight relative weakening against the euro.

Meanwhile, the EUR continues to remain strong against the USD. At the time of this writing, 1 EUR is worth $1.17 USD.

Which is nothing in historical terms, to reach almost $1.60 USD per euro, which was the all-time high, there is a long way to go. We must bear in mind that no matter how hard Trump tries to weaken the dollar in the EU, they are also printing money as if there were no tomorrow, so it will not be so easy to achieve a significant relative weakening of the dollar.

Either way, 2029 is such a short amount of time for the launch of the "Digital Euro". I think the EU will continue to extend the date, until it ultimately gives up. One can only hope...

Hopefully, but I think that all of this will depend greatly on the next presidential elections in the USA.

[Synchronice]

Why wouldn't Russia want to catch Zelensky? They call him a criminal, fascist and in their society, they have a valid reason to catch him by labelling him with these words. I don't think that Russia needs war. Won't it be better for them to have an Ukraine as their ally, like during the era of Soviet Union?
Today we live in a world full of crazy leaders. Two people, Putin and Trump, who want to build empires. It's even more sad that a country, as powerful and rich as the United States of America is, didn't have a better candidate for presidency other than Donald Trump.

You forgot to mention China's Xi Jinping. He is very obsessed with Taiwan. Xi, alongside Putin and Trump, will lead us to WW3. Europe is already alarmed by the rising expansionism of the US, Russia, and China. It's beginning to evaluate how to increase economic independence to survive on its own. The launch of a CBDC will allow the EU to gain greater control/self-sovereignty over its economy. And with increased defense spending, the EU can prepare itself against future threats from its rivals.

For the EUR to gain prominence, however, the USD needs to fall. It's already happening as we speak. Say bye-bye to the US and hello to the EU as the world's leading superpower. Just my two sats.

Europe is like a guy who was smart and energetic in the past but now is like a retired person who has the knowledge and the experience but is too tired to do anything. Europe can't be a superpower with their current approach. EU is too slow, they don't invest into informational technologies. Why don't we have a popular EU version of Instagram, Twitter Facebook, Netflix and YouTube? A popular versions of ChatGPT, Gemini/Veo, MidJourney and Claude? Because EU isn't developing the way it should be. Why should I still be paying with cash in the bus when I can pay with the card? Why is there so much unnecessary bureaucracy when everything can be fast and simple? Why are we accepting violent migrants when we can make it easy for honest and skilled people to come here and work legally? If we fix these, then we can really be the number one but that will also mean we will have to fight the USA because the USA isn't going to give up on being number one and they don't spend billions of dollars on military for no reason.

Truth be told, we are a US colony right now and we will develop as much as the US wants unless we radically change many things.

[FanEagle]

^ This is exactly the reason why they brought in so many immigrants. The logic was that they have very low population and if they brought in millions of people from another nation, then they could have hard working people who are keeping them superpowers, while they themselves just retire because their average is high, and mostly filled with retired old people who will benefit from the hard workers. What they did not realize was the fact that cultural clash would be such a big problem, it was obvious to some, but they made the mistake already.

[Don Pedro Dinero]

^ This is exactly the reason why they brought in so many immigrants. The logic was that they have very low population and if they brought in millions of people from another nation, then they could have hard working people who are keeping them superpowers, while they themselves just retire because their average is high, and mostly filled with retired old people who will benefit from the hard workers. What they did not realize was the fact that cultural clash would be such a big problem, it was obvious to some, but they made the mistake already.

Well, I think there are several reasons. It is not a question of population, but one of the reasons would be pensions, which are based on a Ponzi scheme, and some thought that bringing in immigrants would solve the problem. But today we can see that this is not the case, as low-skilled immigrants, who make up the majority, receive more from the system than they contribute, and also generate pension rights, which exacerbates the problem.

There are also many businessmen who wanted cheap labour.

And in general, at least until recently, Europe has been very open to immigration, but that is because the immigration it received until a decade or so ago was at a pace that allowed it to be assimilated.

There is also a theory that many European leaders of a certain political persuasion want mass immigration so that these people will vote for them, and because these people come from countries where they do not have the rights and freedoms that exist here, they will therefore put up with authoritarian measures such as the imposition of CBDCs.

[fillippone]

There is also a theory that many European leaders of a certain political persuasion want mass immigration so that these people will vote for them, and because these people come from countries where they do not have the rights and freedoms that exist here, they will therefore put up with authoritarian measures such as the imposition of CBDCs.

Curiously, you make such an example.
A couple of days ago, my Instagram feed was populated, for some obscure reason, with the news that the Spanish government allowed a flood of immigrants to be granted Spanish citizenship after two years, basically to attract new voters.
I didn't buy the story, as I also know the Spanish procedure to get citizenship is quite tough.
But just curious about what's happening there.

[MagnificentX]

There is also a theory that many European leaders of a certain political persuasion want mass immigration so that these people will vote for them, and because these people come from countries where they do not have the rights and freedoms that exist here, they will therefore put up with authoritarian measures such as the imposition of CBDCs.

I see where you are driving at and I agree with you because when viewed from a perspective of global politics, the CBDC will help keep these immigrants as it will help those of them without bank accounts yet to operate in the digital economy using just their smartphones and trust me, this is one big scheme on how to build supporters who will vote for you when the time of elections come.

Since they experience and enjoy rights that they do not see or enjoy in the places which they are from, they will have reasons to stay.

[Don Pedro Dinero]

Curiously, you make such an example.
A couple of days ago, my Instagram feed was populated, for some obscure reason, with the news that the Spanish government allowed a flood of immigrants to be granted Spanish citizenship after two years, basically to attract new voters.
I didn't buy the story, as I also know the Spanish procedure to get citizenship is quite tough.
But just curious about what's happening there.

That news story is true. What they are going to do is regularise all illegal immigrants who can prove that they have been in Spain for six months, starting in the middle of this year. To prove this, they only have to provide a certificate of registration, and they can register without having legal residence. They also have access to healthcare from the very first minute, and I am not referring to emergency healthcare, but to going to the doctor for anything with the same rights as someone who has been paying social security contributions in Spain all their life.

I see where you are driving at and I agree with you because when viewed from a perspective of global politics, the CBDC will help keep these immigrants as it will help those of them without bank accounts yet to operate in the digital economy using just their smartphones and trust me, this is one big scheme on how to build supporters who will vote for you when the time of elections come.

With mere regularisation, they will not be able to vote, but just as regularisation has been accelerated, so too can naturalisation be accelerated.
The parties proposing this are selling it as humanitarian, but it is a blatant attempt to buy votes in the future.

[fillippone]

The parties proposing this are selling it as humanitarian, but it is a blatant attempt to buy votes in the future.

AH!
In Italy the opposite happened.
You think that when an immigrant becomes a legal voter, vote for more immigrants to be regularized? LOL!
Once they are insiders, they become harsher than old residents: once you are inside the club, you don't want to dilute your privileges with new entrants.
As funny as it sounds, in Italy, immigrants voted for far-right parties for this reason!

[Don Pedro Dinero]

AH!
In Italy the opposite happened.
You think that when an immigrant becomes a legal voter, vote for more immigrants to be regularized? LOL!
Once they are insiders, they become harsher than old residents: once you are inside the club, you don't want to dilute your privileges with new entrants.
As funny as it sounds, in Italy, immigrants voted for far-right parties for this reason!

But what percentage? I also know immigrants living in Spain who are against more immigration, especially at the accelerated rate we are seeing lately, and they explain it to you in a very simple way: because they fled from places that are what certain parts of Spain are turning into today. Not a question of privilege, more a question of safety.

In other words, in many South American countries, if you have a high-end mobile phone, it is better not to take it out when you are walking down the street because it will be stolen, with physical aggression and whatever else it takes to get it. Today, the place where this happens most in Spain is Barcelona. In Catalonia (the entire region whose capital is Barcelona), 155 mobile phones are stolen every day. That's crazy compared to what we were used to.

At this rate, the next thing will be getting shot to have your trainers stolen, as happens in some parts of South America.

As I say, I think most Europeans are in favour of immigration, but not of uncontrolled immigration madness.

And despite what I say about the immigrants I know, it is a fact that most tend to vote for left-wing parties, at least in Spain. I don't know in detail what happens in Italy.

[MagnificentX]

I see where you are driving at and I agree with you because when viewed from a perspective of global politics, the CBDC will help keep these immigrants as it will help those of them without bank accounts yet to operate in the digital economy using just their smartphones and trust me, this is one big scheme on how to build supporters who will vote for you when the time of elections come.

With mere regularisation, they will not be able to vote, but just as regularisation has been accelerated, so too can naturalisation be accelerated.
The parties proposing this are selling it as humanitarian, but it is a blatant attempt to buy votes in the future.

It is all politics as I said brother because they know it is a strategy that will definitely help. And about making immigrants eligible to vote, the same people in government who needs their support will accelerate naturalization so as to make sure it benefits them when the time is right.

Man will never do something if there is no personal interest attached most especially not in global politics

[fillippone]

Something is moving  at the ECB about the digital EURO strategy:



Finally adopting stablecoins vs digital EURO?

[Abiky]

Europe is like a guy who was smart and energetic in the past but now is like a retired person who has the knowledge and the experience but is too tired to do anything. Europe can't be a superpower with their current approach. EU is too slow, they don't invest into informational technologies. Why don't we have a popular EU version of Instagram, Twitter Facebook, Netflix and YouTube? A popular versions of ChatGPT, Gemini/Veo, MidJourney and Claude? Because EU isn't developing the way it should be. Why should I still be paying with cash in the bus when I can pay with the card? Why is there so much unnecessary bureaucracy when everything can be fast and simple? Why are we accepting violent migrants when we can make it easy for honest and skilled people to come here and work legally? If we fix these, then we can really be the number one but that will also mean we will have to fight the USA because the USA isn't going to give up on being number one and they don't spend billions of dollars on military for no reason.

Truth be told, we are a US colony right now and we will develop as much as the US wants unless we radically change many things.

That is true. But what if US-based tech companies move to the EU? Then the bloc would become the "powerhouse" of the tech industry. And military and economic independence shouldn't be much of a problem. I remember French President Emmanuel Macron saying that "Europe must increase defense spending". Even Zelensky said that "Europe needs to know how to defend itself".

As for economic matters, the EU already made several "free trade" agreements in the wake of Trump's uncertain tariff rates. The "mercosur" trade agreement with South American countries and the agreement with India. Two big economic regions that the EU could exploit for its own benefit. What if it does a "free trade" deal with China as well? While the US continues to bash other countries and impose crazy-high tariff rates, the EU seeks to strengthen its economic ties with other countries. Who knows? It might become independent from the US someday. With that in mind, a "Digital Euro" would rule the world. Only time will tell.

[Synchronice]

Europe is like a guy who was smart and energetic in the past but now is like a retired person who has the knowledge and the experience but is too tired to do anything. Europe can't be a superpower with their current approach. EU is too slow, they don't invest into informational technologies. Why don't we have a popular EU version of Instagram, Twitter Facebook, Netflix and YouTube? A popular versions of ChatGPT, Gemini/Veo, MidJourney and Claude? Because EU isn't developing the way it should be. Why should I still be paying with cash in the bus when I can pay with the card? Why is there so much unnecessary bureaucracy when everything can be fast and simple? Why are we accepting violent migrants when we can make it easy for honest and skilled people to come here and work legally? If we fix these, then we can really be the number one but that will also mean we will have to fight the USA because the USA isn't going to give up on being number one and they don't spend billions of dollars on military for no reason.

Truth be told, we are a US colony right now and we will develop as much as the US wants unless we radically change many things.

That is true. But what if US-based tech companies move to the EU? Then the bloc would become the "powerhouse" of the tech industry. And military and economic independence shouldn't be much of a problem. I remember French President Emmanuel Macron saying that "Europe must increase defense spending". Even Zelensky said that "Europe needs to know how to defend itself".

As for economic matters, the EU already made several "free trade" agreements in the wake of Trump's uncertain tariff rates. The "mercosur" trade agreement with South American countries and the agreement with India. Two big economic regions that the EU could exploit for its own benefit. What if it does a "free trade" deal with China as well? While the US continues to bash other countries and impose crazy-high tariff rates, the EU seeks to strengthen its economic ties with other countries. Who knows? It might become independent from the US someday. With that in mind, a "Digital Euro" would rule the world. Only time will tell.

Why would US tech companies move to the EU? US is a huge market on its own, the USA is the wealthiest and the most influential country in the world. They also have a Silicon Valley. They don't need to leave the US market but if they needed, EU is definitely a great place. Instead, EU should try to create their own companies and beat US companies. I believe that EU can do that but it's too slow (for sure, as Macron said ). One of the biggest cons of EU is that it doesn't have a common language. You need German in Germany, French in France, Italian in Italy and so on. In the USA, you can speak English in all states and English is fairly easy language compared to others. I know what I would do if I were the leader of the EU

[Don Pedro Dinero]

Something is moving  at the ECB about the digital EURO strategy:



Finally adopting stablecoins vs digital EURO?

Lol, to create a 'single EU capital market' twenty-seven years after the launch of the euro and thirty-three years after the establishment of the European Union, the bureaucrats in Brussels could take it a little easier, while they are at it.

That is true. But what if US-based tech companies move to the EU?

That's simply not going to happen. And, actually, what happens is the opposite, most technology startups that succeed in the early stages move to the US.

[Abiky]

Why would US tech companies move to the EU? US is a huge market on its own, the USA is the wealthiest and the most influential country in the world. They also have a Silicon Valley. They don't need to leave the US market but if they needed, EU is definitely a great place. Instead, EU should try to create their own companies and beat US companies. I believe that EU can do that but it's too slow (for sure, as Macron said ). One of the biggest cons of EU is that it doesn't have a common language. You need German in Germany, French in France, Italian in Italy and so on. In the USA, you can speak English in all states and English is fairly easy language compared to others. I know what I would do if I were the leader of the EU

That's what I've thought at first. But given that the US is on the brink of collapse (due to the uncertainty of the Trump administration), companies might decide to jump ship to save their backs. Depending on how bad the economy is, ofc. US President Donald Trump has often expressed his intentions to weaken the US Dollar. Meanwhile, the EUR continues to grow stronger. Another reason for tech companies to move away from the country (I think).

There are growing calls for the EU to become more independent (economically, politically, and militarily) from the US. Imagine the EU as the world's leading superpower with the EUR turned into a CBDC. Not far from becoming a reality in the future. It'll be a slow and steady process. That's for sure. We'll see what happens...

[fillippone]

Lol, to create a 'single EU capital market' twenty-seven years after the launch of the euro and thirty-three years after the establishment of the European Union, the bureaucrats in Brussels could take it a little easier, while they are at it.

The European capital market is very fragmented: every country has different rules for moving, taxing, and using capital.
The choice where setup up an enterprise is non-trivial.
You are a European, and you know this mess.
OF course, delusional hope to sell the Euro abroad. They will face the harsh truth.

[Luke3bird]

The European capital market is very fragmented: every country has different rules for moving, taxing, and using capital.
The choice where setup up an enterprise is non-trivial.
You are a European, and you know this mess.
OF course, delusional hope to sell the Euro abroad. They will face the harsh truth.

Recent years, the European Union looks to be broken into different separated nations again. From the UK with Brexit years ago to latest conflicts inside the Union among many nations on how to support Ukraine against the war and invasion of Russia. I see it is not like good signal that the European Union will continue united strongly with each other.

Many policies will be vetoed in the future by different nations in the EU especially the emerge of nationalism in recent years as effects from MAGA in the USA.

[Abiky]

Recent years, the European Union looks to be broken into different separated nations again. From the UK with Brexit years ago to latest conflicts inside the Union among many nations on how to support Ukraine against the war and invasion of Russia. I see it is not like good signal that the European Union will continue united strongly with each other.

Many policies will be vetoed in the future by different nations in the EU especially the emerge of nationalism in recent years as effects from MAGA in the USA.

The EU is indeed fragmented. It will never able to stand against the US this way. But if American decline accelerates, it's possible the EU will take over the world in the future. The events happening right now, might result in strength for the bloc over time. Like the Ukraine crisis forcing EU countries to raise their defense spending, while Trump's Iran uncertainty (causing high gas prices) will force the EU to become energy-independent.

I wouldn't count on a EU-backed CBDC, though. 2029 is just three years away. A short amount of time for the new digital cash system to become fully-mature for mainstream use. It's going to take decades as the final product goes through a period of extensive testing. Not to mention, the masses are going to need to get used to the new system. For now, the USD will remain "King". The EU just need to deal with this.

[Webetcoins]

Good news? I find this to be not good at all. I would love it if governments involve with crypto more and more, we all cheered when El Salvador made bitcoin a legal tender, and I would cheer the same way when governments have their own stablecoins.

Why would I want to use a stablecoin made by tether, a random company I do not even know, when I could use a stablecoin from a government that I could trust? This is why I would prefer that this would happen and not be something that gets postponed even further.