Quotes of the month
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Quotes of the month

March 2020

“One of the most fundamental questions is over civil liberties. Once central bank digital currency supplants physical cash, then governments could have the power – if not the legal right in many countries – to view and even control and censor who can use their own money”

Meltem Demirors, chief strategy officer of CoinShares, says privacy is a big issue in the move to central bank digital currencies

“The ECB needs to be careful to not create a situation where people do the opposite of what is expected when we reach the so-called reversal rate. This could lead some banks, when margins are tighter and regulatory requirements higher, to buy back their shares rather than lend more”

Jean Pierre Mustier, president of the European Banking Federation, raises concerns over the economic impact of negative rates for longer

“The banks – which is where Brazilian savings are – have no interest in having an educated population. The more educated the population gets, the more they want to escape from the banks; by providing education, we make people reflect”

Guilherme Benchimol, chief executive of fast-growing investment firm XP Inc, has the big Brazilian banks’ large market shares in his sights

“This region is misunderstood to a certain extent and evokes a number of negative comments.

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