Digital Money Not An Adequate Replacement For Cash, Bundesbank’s Weidmann Says

www.oann.com | 6/13/2017 | Staff
urbanagirl3 (Posted by) Level 3
FRANKFURT (Reuters) – Digital money issued by central banks would not be an adequate replacement for cash and would heighten the risk of a run on commercial banks, the head of Germany’s Bundesbank said on Wednesday.

The idea of a digital currency giving holders a direct claim on the central bank is being studied by Sweden’s Riksbank and has been touted by some academics as a way to extend the reach of monetary policy when interest rates on deposits are below zero.

Jens - Weidmann - Use - Cash - Means

But Jens Weidmann rejected it and defended the use of cash and means of payments that go through commercial banks.

“(Getting rid of...
(Excerpt) Read more at: www.oann.com
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