(THREAD) Technological innovation opens up opportunities and risks, says Executive Board member Fabio Panetta at the @Bundesbank's conference “Future of Payments in Europe“. Our strategy is to empower Europeans with efficient, inclusive and secure payments in the digital age 1/5

Panetta: Big tech and stablecoins could disrupt the European financial system. While they could offer convenient and efficient payment solutions, they risk endangering competition, privacy, financial stability and even monetary sovereignty 2/5

Panetta: We are implementing a comprehensive policy to ensure that citizens’ payment needs are met, while safeguarding the integrity of the payment system and financial stability. We are also promoting safe, pan-European instant payments 3/5

Panetta: What is at stake is nothing short of the future of money. Sovereign money also needs to be reinvented. This requires central bank money to remain available in all circumstances: as cash and potentially as a digital euro. Read full speech https://www.ecb.europa.eu/press/key/date/2020/html/ecb.sp201127~a781c4e0fc.en.html 4/5

Panetta: A #digitaleuro would combine the efficiency of a digital payment instrument with the safety of central bank money, offering, together with cash, greater choice and access to simple ways of paying. Have your say in our public consultation https://www.ecb.europa.eu/paym/intro/cons/html/index.en.html 5/5