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How the ECB Is Shaping the Future of Public Money
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How the ECB Is Shaping the Future of Public Money
As innovations in payment systems accelerate, the European Central Bank is taking transformative steps to protect the benefits of cash in an increasingly digital economy, writes Grant Thornton’s Mark Perry Broadly, there are two types of money used within our economy: public money, made up of the physical currency (cash) issued by the Central Bank; and private money, comprising the account balances issued by commercial banks. Whilst the value of…
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