Central banks will discuss Facebook Pound this Monday

Senior officials of the European Central Bank (ECB) and of 25 global central banks will meet with representatives of the Libra Association to assess the risks involved in such project for global financial stability. This would be the first important meeting between the Libra representatives of Facebook and important world officials.

Según Financial TimesOn Monday, September 16, representatives of the Libra Association will meet with the Committee on Payment and Market Infrastructure (CPMI) in Switzerland. The CPMI, an international body of the Bank for International Settlements (BPI) and a member of the Financial Stability Board, is made up of 28 member banks, including the Bank of England and the Deutsche Bundesbank.

Benoit Coeure, ECB executive who will attend the meeting, he pointed recently that the Regulatory approval level to operate Libra in the European Union will be very high.

Coeure also stated that it was time for regulators to "intensify their reflection on the digital currency of the central bank", giving indications of the possibility of such an instrument for the ECB, as reported Reuters. In that sense, according to Coeure, the ECB would be working on a digital currency project that could be ready before the launch of Libra.

On the other hand, the French Finance Minister, Bruno Le Maire, manifested that Europe should consider issuing its own digital currency to challenge Libra. Le Maire said that next month he will discuss the potential of a possible "EuroMoneda" with his European counterparts.

Previously, the September 13, German parliamentarian Thomas Heilmann said that the German government will block projects like Libra, expressing concern that such private digital currency will become unstoppable and uncontrollable.

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