Central banks will not rescue firms from future of payments – ECB’s Cœuré
Market disruption is likely as incumbent banks fight to remain relevant
Incumbent banks should not rely on central banks to come to their aid should the financial landscape become disrupted by new payment service providers, one of Europe’s senior central bank officials has warned.
Speaking alongside a panel of experts at the Spring World Bank and International Monetary Fund meetings on April 10, Benoît Cœuré said the European Central Bank was “not in the business of helping banks”.
“Societies need to choose how they want to pay for things – not central banks or
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