Bye bye Visa, Mastercard, Paypal, and many others. They can go and play “America First”. We’ll have our own independent system by november 2025.
A belated clarification:
It does not appear that there are plans for a European Credit Card.
However, …
- There is the semi-private online payment system called WERO, meant as a competitor to Paypal
- There are plans for a Digital Euro (D€) system by the ECB
Digital euro uh, only matters to the government and banks. Lower cost of production I’m sure. No need to store physical cash for banks.
For citizens, it’s not like we haven’t been using bank cards and apps this whole time. We just have been linking our payments to a bank account we hold digitally on our phones.
So, this isn’t a big change for citizens. Just a lower cost for production.
It’s not just cost of production.
I like the idea of having digital cash like physical cash, with cheap transaction fees if at all, no transactions over international private corps instead of my bank, multiple cards which may or may not work in one place or another, and different apps in different countries.
Not having our cash transaction routed through US services is extremely significant in terms of privacy and autonomy.
are we getting closer to what they have in China 🇨🇳 where by the flip of a switch, the Government can make anyone a hobo whenever they wish?
OK. I’m out of this conversation. Nothing can be a positive outcome of this conversation. So I admit: The European Union is working on the behalf of China, with a hidden authoritarian agenda who wants to make all EU citizens helpless peasants. All actions the EU are taking are not real. They just want to screw us up. I’m moving to the US. Maybe I’ll be better off. (note: sarcasm)
Someone who phrases a question like that doesn’t want discussion, nothing good can come of engaging indeed
It seems bizarre to me you think that. Europe clearly has fascitis in the same way most of the world does – trump may even help pull you back from that by being such a flaming turd. But it’s not irrational to wonder about what level of control a new financial system might be able to exert.
I don’t see anything in the first post indicating they think come November you’ll have social currency systems, just a healthy level of skepticism about the new thing.
Clearly they weren’t asking that question in good faith, but you countered by cranking the bad faith up to eleven.
I also have concerns with central banks; however, I still appreciate you making this newsworthy OP. Don’t stress if everyone doesn’t share the same opinions. This would be a boring place if everyone was just reiterating why they agree with each other. ✌️
Such a system is not in place even in the harshest dictatorships. What makes you think that the democratic EU wants to implement such an regime?
Sadly not entirely true. The incredibly shitty previous government in Australia widely trialed a racist, classist cashless welfare card for indigenous people. Recipients got 80% of their welfare on it and it could not be used for alcohol, gambling or cash incase they spent it on drugs or porn or other “sinful” things.
As we become more dependent on digital systems there are new ways for our privacy and freedoms to be eroded which makes participatory democracy all the more important.
Almost all my transactions are contactless payments and it pisses me off that they all go through VISA when there is a perfectly good local network for debit card payments.
Honestly, not allowing welfare to be spent on alcohol or gambling seems pretty reasonable. I’ve seen much harsher restrictions that do seem excessive, but this one isn’t.
