European Central Bank's official cautions on potential global financial crisis due to US digital currency policies
Francois Villeroy de Galhau, a member of the European Central Bank’s Governing Council, warned that the United States’ approach to digital currencies and non-bank financial matters could lead to the next global financial crisis. In an interview, he stated that America, by promoting digital currency assets and non-bank financial activities, is sowing the seeds of future disruptions. Villeroy claimed that Europe’s financial supervision is safer, and there is no risk of a banking crisis in this bloc. He also emphasized the need for a stronger role of the Euro in global markets, arguing that Europe should establish a powerful union for savings and investments to attract international investors to its currency.
