Still better than the app of my bank. I'm forced by the government to keep my money in a bank, hopefully this will change that and banks can all go fuck themselves. I'd rather store my money in a European institution rather than a private bank.
this post was submitted on 20 May 2026
21 points (100.0% liked)
Europe
11917 readers
755 users here now
News and information from Europe 🇪🇺
(Current banner: La Mancha, Spain. Feel free to post submissions for banner images.)
Rules
- This is an English-language community. Comments should be in English. Posts can link to non-English news sources when providing a full-text translation in the post description. Automated translations are fine, as long as they don't overly distort the content.
- No links to misinformation or commercial advertising. When you post outdated/historic articles, add the year of publication to the post title. Infographics must include a source and a year of creation; if possible, also provide a link to the source.
- Be kind to each other, and argue in good faith. Don't post direct insults nor disrespectful and condescending comments. Don't troll nor incite hatred. Don't look for novel argumentation strategies at Wikipedia's List of fallacies.
- No bigotry, sexism, racism, antisemitism, islamophobia, dehumanization of minorities, or glorification of National Socialism. We follow German law; don't question the statehood of Israel.
- Be the signal, not the noise: Strive to post insightful comments. Add "/s" when you're being sarcastic (and don't use it to break rule no. 3).
- If you link to paywalled information, please provide also a link to a freely available archived version. Alternatively, try to find a different source.
- Light-hearted content, memes, and posts about your European everyday belong in other communities.
- Don't evade bans. If we notice ban evasion, that will result in a permanent ban for all the accounts we can associate with you.
- No posts linking to speculative reporting about ongoing events with unclear backgrounds. Please wait at least 12 hours. (E.g., do not post breathless reporting on an ongoing terror attack.)
- Always provide context with posts: Don't post uncontextualized images or videos, and don't start discussions without giving some context first.
(This list may get expanded as necessary.)
Posts that link to the following sources will be removed
- on any topic: Al Mayadeen, brusselssignal:eu, citjourno:com, europesays:com, Breitbart, Daily Caller, Fox, GB News, geo-trends:eu, news-pravda:com, OAN, RT, sociable:co, any AI slop sites (when in doubt please look for a credible imprint/about page), change:org (for privacy reasons), archive:is,ph,today (their JS DDoS websites)
- on Middle-East topics: Al Jazeera
- on Hungary: Euronews
Unless they're the only sources, please also avoid The Sun, Daily Mail, any "thinktank" type organization, and non-Lemmy social media (incl. Substack). Don't link to Twitter directly, instead use xcancel.com. For Reddit, use old:reddit:com
(Lists may get expanded as necessary.)
Ban lengths, etc.
We will use some leeway to decide whether to remove a comment.
If need be, there are also bans: 3 days for lighter offenses, 7 or 14 days for bigger offenses, and permanent bans for people who don't show any willingness to participate productively. If we think the ban reason is obvious, we may not specifically write to you.
If you want to protest a removal or ban, feel free to write privately to the admin that applied the rule (check modlog first to find who was it.)
founded 2 years ago
MODERATORS
Who do you think is the bank behind the EU? It’s just another central bank, and the BIS. Digital programmable money is a method of control, not a currency.
Wouldn't that be backed by the EU and thus officially be money? That is quite different from a bank account, which is just a credit you've got with the bank and which they may or may not honor. Why would this not be a currency?
The EU is a political body. It does not back anything. Each countries central bank is backed by other larger banks, the final one being the Bank of International Settlements (BIS).
Programmable money is their next goal, linked to your digital ID. This means when there is no cash, you cannot spend money the way you want.
Imagine that you are paid 100€. Right now you can spend it how you see fit. If you want to use all of it and go buy meat at the store, you can. However, with digital money, the EU/bank/etc can say that you can only spend 29€ on meat, because it’s bad for the environment.
This is the problem of digital money and digital id. The banks get to track all spending and determine who can buy what and when.
i thought it was the EU to issue and back Euro, not a private bank. Here I'm saying backing the Euro as defining it money and having police that will enforce its validity.
This is a way to track you
How is this worse than a regular bank account, which you're required to have anyway?
Bank decides who can buy what and then
Banks could do that already, they do not. Really doubt that is going to happen as it would strongly undermine the utility of Euro.
Do you have reasons to believe this is going to happen or this is just wishful thinking?
It’s in their documentation:
https://www.bis.org/publ/arpdf/ar2023e3.htm
Here’s a simpler explanation via video: https://www.youtube.com/watch?v=PnSIWWAYj40
What is in the documentation? I skimmed over and thy don't seem to talk about stopping payments or rationing ones money. They do seem to focus quite a bit on privacy and how to protect user data.
Who is the YouTube video by and why should I care to watch it?
She is a former BIS banker and explains the core concepts in simple terms.
Bro it’s a two minute long fucking video if you can’t be bothered enough to watch that I can’t help you.
I watched your 2 minutes video. It is very sensationalistic and doesn't really explain anything about how the system works or why it could be problematic.
The speaker is American, not European.
She doesn't address the fact that such a system is already in place and the norm for everyone. As of now it is not a 3 party system but a 4 party system: the two persons involved in the transaction and the two private banks handling the transactions. I don't get how taking out the private banks and having a public institution doing the handling would make the system worse.
It would indeed be worse for private banks, which I guess is why a bank employee may be opposed to it.
Moreover, a video by a person who supported Donald Trump in the elections and opposed COVID lockdown is not very reassuring.