ECB to Enable Blockchain-Based Settlement in 2026, Redrawing Europe’s Financial Plumbing
Central bank money on distributed ledgers marks a strategic bid to defend the euro in a tokenised world
Central bank money on distributed ledgers marks a strategic bid to defend the euro in a tokenised world
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Frankfurt refuses to underwrite emergency liquidity, warning the scheme breaches EU law and risks “monetary financing”.
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The European Central Bank is expected to approve a request by Greek banks to resume the payment of dividends after 16 years, four bankers told Reuters on Wednesday, a further sign of the sector’s rebound.
A positive reversal was recorded after the end of the COVID pandemic lockdowns as Greek households witnessed a substantial rise in wealth to €798.8 billion in the 2nd quarter of 2023, with property largely accounting for the wealth uptick
Referring to the Greek economy and Greek state bonds in particular, the ECB's president noted that these were now eligible to participate in ECB's repurchase programmes - which have been frozen - with the exception of the PEP programme in which Greek bonds participated already. The board meeting did not discuss the future of the programme, she noted.
From 2008 to 2016, the ECB head said, Greece's GDP shrank by over a quarter, unemployment rose by 20 percentage points at its apex, and catastrophe hit again with the coronavirus pandemic just as the economy was starting to recover and reforms give results. Greece has been at the forefront of global challenges that Europe faces, including climate crisis and the migration crisis, she also added.
This comes from a European Central Bank survey of European citizens’ payment trends, according to which cash – although in decline due to the spread of electronic transactions – is still the eurozone’s dominant means of payment.