I fully agree with the point made by Fabio Panetta telling us that the anchor of our monetary system, worldwide and in the EU, is central bank money /FT, 19, November, 2021/.
This is the right answer to all the challenges of the fintech and bigtech sectors. Otherwise we might end up in dangerous and uncharted waters pushing us towards the fall of central banks, governments and states.
ECB’s approach is also right that central banks should go ahead with projects that will allow everyone to use central bank money for digital retail payments.
In a proactive way, we should think about using central bank money for investments focusing on sustainability and green transition.
Governor Matolcsy, MNB, the Central Bank of Hungary