President of the German Bundesbank: Facebook Libra does not make central banks redundant


President of the German Bundesbank: Facebook Libra does not make central banks redundant

AtlantisFX | The president of the German Federal Bank Jens Weidmann does not see the independence of the central banks by the Facebook (NASDAQ: FB) planned digital currency Libra endangered. "At least as far as the Eurozone is concerned, I am relaxed," said the economist in an interview on 25 August in the Frankfurter Allgemeine Zeitung.


No need to worry, but ... At the same time, one has to be aware of the risks of such digital currencies. There would be a credit risk as well as an exchange rate risk if the money is not exclusively linked to the home currency of the user.


"For Libra, the key question for me as central bankers is what impact such a private digital means of payment would have on monetary policy, financial stability and payments, if it were widespread."

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