📉 Europe: The Central Bank will form a task force to simplify banking rules

📉 Europe: The Central Bank will form a task force to simplify banking rules

Although this topic hasn't been widely discussed, it is expected that the group will consist of the Presidents of the Central Banks of Germany🇩🇪, France🇫🇷, Italy🇮🇹, and Finland🇫🇮, who will be responsible for the initiative.

🔣 Although the proposal is promising, it is important to remember that the ECB does not have the authority to modify rules established by the European Union. In other words, any recommendations made by this group will need to be sent to Brussels for evaluation, and it is uncertain when concrete changes will be implemented in financial institutions.

🔣 The creation of this group seems to align with the European trend toward financial sovereignty, seeking to reduce dependency on foreign providers such as Visa, Mastercard, PayPal, and Alipay.

We'll see how cultural and internal differences are managed, which could become a significant obstacle for large-scale projects, not just in the banking sector.

#news #Europe #geopolitics

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