German Finance Minister Olaf Scholz saw a future – using the electronic version of the Euro, and for the global social network giant Facebook wants to issue the stable currency Libra, he believes that Facebook should stay away from the currency issue.
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What Germany wants is the euro, not Libra.
On October 3, Scholz revealed in an interview with local financial news website WirtschaftsWoche that he would like to see the so-called electronic version of the Euro (E-euro) and added:
“This payment system is good for Europe as a financial center and integrated into the world financial system.”
In contrast, Scholz has said that he is "very, very suspicious" about Facebook's digital currency Libra, which echoes the hostility that Facebook had previously suffered in France. He continued:
"Currency is a core element of national sovereignty; we will not leave this to the private sector."
Libra continues to suffer from cold pairs
At the same time, Apple CEO Tim Cook recently revealed his dislike of Libra, also claimed that the government and the central bank should be responsible for the currency.
In an interview with the French "Ess Echos", he said: "I don't agree with the idea that private entities can create a modern currency." He added that Apple will not attempt to replicate Facebook's currency experiment.
As Cointelegraph reports, Libra's latest roadmap shows that its developers are still confident about the project and intend to continue to promote the main network (sometime in 2020).
Although Facebook CEO Mark Zuckerberg said the company did not release a deadline for Libra's main network, it is widely believed that it will be in the second quarter of 2020.
Facebook is now being questioned and blocked by global regulators, especially in Europe, where France and Germany have made it clear that they want to stop Libra's development in Europe. Libra's current situation is not ideal. Recently, according to the Wall Street Journal, members of the Libra Association such as Visa and MasterCard are reconsidering their participation in the project because they have been pressured by regulators, even though Libra’s head David Marcus has been reporting on the report. Denied, but on October 4th, the payment network PayPal officially withdrew from the Libra Association, which made Libra's situation more subtle.
Whether Libra can overcome the hardships and risks, or under the smashing of global regulators, we will wait and see.