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"Libra is not welcome in Europe", Bruno Le Maire

(Cio Mag) – Although Facebook is interested in its digital pound project, the project is struggling to convince. Several European countries have openly expressed reservations about its realization. In France, we are talking about a dangerous project for the stability of the world economy. French Economy Minister Bruno Le Maire (pictured right) announced at the end of the week a veto bill against this currency in Europe. The mayor revealed that France, Germany and Italy are thinking about it. These three countries go beyond the requirements of the G7, which on Thursday called for a legal framework.

France, Germany, and Italy see this currency as a threat to the monetary sovereignty of states. In fact, the problem posed by these countries is the governance of this currency. The pound is intended to have a fixed parity with currencies such as euros or dollars. The pound, a private currency, governed by an association, will be positioned as a "normal" currency in the hands of a private organization, fearing opponents of the project. Meanwhile, the IMF suggests assessing risks.

It should also be emphasized, Facebook's reputation for sulfur, the main initiator of this project does not help in its development. With the desertions of recent days, the pound association continues to strive to convince, after all. Its main argument, the pound, completes and does not replace the current monetary system.

Souleyman Tobias

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