Foreign jurisdictions could disrupt European payments, Mersch warns
EU must end reliance on foreign-based payment card providers, ECB official says
A senior official at the European Central Bank has issued a strong warning that Europe’s payment systems might face serious disruption due to policy decisions taken by foreign jurisdictions.
The number of payment channels operated by non-European companies “increases our dependence on third countries”, Yves Mersch said on September 3. This posed some very large risks, the executive board member of the European Central Bank told an audience in Paris.
“In particular, we have to be mindful of the
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