Comments on Facebook’s Libra from Governor of the Central Bank of Luxembourg and member of the European Central Bank Executive Board Yves Mersch
- “I sincerely hope that the people of Europe will not be tempted to leave behind the safety and soundness of established payment solutions and channels in favour of the beguiling but treacherous promises of Facebook’s siren call”
- Added that Libra was coming from “the very same people who had to explain themselves in front of legislators in the United States and the European Union on the threats to our democracies resulting from their handling of personal data on their social media platform”
I don’t take too much issue with Mersch’s comments but I would note that maybe ECB policy makers have more important things to focus on right now?
Anyway, carry on.