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Bank of France Governor Pushes on Need for Euro CBDC
With the evolution ongoing in the fintech world, central banks including Banque de France are actively investigating the concept of Central Bank Digital Currencies (CBDCs) as viable replacements for traditional fiat currencies.
Accordingly, being at the forefront of these discussions has seen one of its prominent figures, François Villeroy de Galhau, the Governor of the Banque de France, taking a diplomatic approach in soft-selling the proposed Euro CBDC to commercial bankers. While speaking at this year’s Global Official Institutions Conference, Villeroy de Galhau emphasized that the CBDC would be a ‘solution in search of a problem’ and will not be a competitor to fiat currencies.
Recognizing the need to address potential doubt and resistance, he raised an intriguing question:
“As everything is becoming digital, why should central bank money be the only thing that remains on paper?”
With this rhetorical questi
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