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A Digital Euro to Compete With Libra

Author

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  • Mayer Thomas

    (Flossbach von Storch Research Institute, Cologne, Germany)

Abstract

On 18 June 2019 a group of 28 companies led by Facebook published a White Paper proposing the creation of a new crypto currency named Libra. The initiative could give the digitalization of money a big boost. Digitalization would also give the euro a viable long term perspective, which it is unlikely to have in the credit money system. Credit money needs a state for its reinsurance that cannot be created for the euro area. Digital money, on the other hand, can exist without a state guarantee.

Suggested Citation

  • Mayer Thomas, 2019. "A Digital Euro to Compete With Libra," The Economists' Voice, De Gruyter, vol. 16(1), pages 1-7, December.
    • Handle: RePEc:bpj:evoice:v:16:y:2019:i:1:p:7:n:15
    DOI: 10.1515/ev-2019-0033
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    References listed on IDEAS

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    1. Bell, Stephanie, 2001. "The Role of the State and the Hierarchy of Money," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 25(2), pages 149-163, March.
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    Cited by:

    1. Miguel Ángel Echarte Fernández & Sergio Luis Náñez Alonso & Ricardo Reier Forradellas & Javier Jorge-Vázquez, 2022. "From the Great Recession to the COVID-19 Pandemic: The Risk of Expansionary Monetary Policies," Risks, MDPI, vol. 10(2), pages 1-17, January.
    2. Thomas Mayer & Julian Grigo & Patrick Hansen & Lars Hornuf & Burkhard Balz & Jan Paulick & Markus Demary & Vera Demary & Stefan Eichler & Marcel Thum & Gilbert Fridgen & Benedict Drasch, 2019. "Parallelwährungen jenseits der Finanzaufsicht: Haben Bitcoin und Libra eine Zukunft?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 72(17), pages 03-28, September.

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