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Why Europe Is Building Its Own Payment System
The Council of the EU is highlighting Europe's push to develop its own payment system, reducing reliance on US-dominated networks like Visa and Mastercard. The initiative, long championed by the European Central Bank, includes plans for a digital euro and greater payment sovereignty. The topic is drawing wide attention as discussions over strategic autonomy and financial independence intensify across the continent.
Why now: Ongoing EU efforts toward payment sovereignty and a digital euro are prompting renewed debate about dependence on American card networks.
European UnionCouncil of the EUEuropean Central Bank
Evidence
- Why Europe Is Building Its Own Payment System · Council of the EU · 193.4K
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