Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By Freedom Bunker
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

Trump Crypto Push Could Hurt Europe’s Financial Stability: Top EU Official

% of readers think this story is Fact. Add your two cents.


Trump Crypto Push Could Hurt Europe’s Financial Stability: Top EU Official

Authored by Martin Young via CoinTelegraph.com,

Finance officials in the European Union are concerned US President Donald Trump’s embrace of digital assets could affect Europe’s monetary sovereignty and financial stability.

“The US administration is favorable toward cryptocurrencies and especially dollar-denominated stablecoins, which may raise certain concerns in Europe,” European Stability Mechanism (ESM) managing director Pierre Gramegna said at a Eurogroup press conference on March 10. 

Gramegna cautioned that the US crypto pivot “could eventually reignite foreign and US tech giants’ plans to launch mass payment solutions based on dollar-denominated stablecoin,” adding, “And if this were to be successful, it could affect the euro area’s monetary sovereignty and financial stability.”  

The ESM “supports the ECB’s urgency in making the digital euro a reality to safeguard Europe’s strategic autonomy — this digital euro is today more necessary than ever,” he added.

The ESM is an intergovernmental organization established by member states of the euro area, helping countries overcome financial crises and maintain long-term financial stability and prosperity.

Pierre Gramegna speaking on US crypto threat. Source: YouTube

“Policy developments in other jurisdictions can have important consequences for us here in Europe,” concurred Irish finance minister Paschal Donohoe. 

“These discussions are fundamentally linked to our own autonomy and to the resilience of our currency,” he added, stating that a European central bank digital currency (CBDC) was now critical to staying ahead of the curve.

In February, the European Central Bank said it was expanding the development of its CBDC payment system to settle transactions between institutions. The ECB has been exploring CBDCs since 2020, including a consumer-facing retail digital euro and wholesale cross-border settlement between central banks.

Meanwhile, Trump has spoken out against a Federal Reserve CBDC, signing an executive order in January to establish a crypto working group while prohibiting the “establishment, issuance, circulation, and use” of a US CBDC. 

The ECB has also rejected the idea of adding Bitcoin to its monetary reserves or allowing other European central banks to do so. 

In late January, ECB President Christine Lagarde said that the reserves of central banks have to be “liquid, secure and safe,” implying that they would not include crypto assets. 

She added that she was “confident” that Bitcoin would not enter the reserves of banks under the European Council. 

Tyler Durden Wed, 03/12/2025 – 05:00


Source: https://freedombunker.com/2025/03/12/trump-crypto-push-could-hurt-europes-financial-stability-top-eu-official/


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.


LION'S MANE PRODUCT


Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules


Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.



Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.


Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

MOST RECENT
Load more ...

SignUp

Login

Newsletter

Email this story
Email this story
If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.