PARIS—The governor of France’s central bank on Friday told President Emmanuel Macron that the country’s heavy public debt, bloated by spending to safeguard jobs and growth during the pandemic, posed a challenge to the economy but could not be cancelled. In his annual letter to the president, Governor Francois Villeroy de Galhau said easing the…
The Dangers of a Central Bank Digital Currency
Commentary In recent weeks, Jerome Powell at the Federal Reserve and Christine Lagarde at the European Central Bank have commented on the likelihood of implementing digital currencies in the next few years. The positives have been well explained: more transparency, ease of use, and lower cost. The European Central Bank (ECB) has stated that “a…
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