(Bloomberg) -- In a picturesque wine town about 100 kilometers (62 miles) from Frankfurt lies a hidden bunker that for decades was one of Germany’s best-kept...
-- In a picturesque wine town about 100 kilometers from Frankfurt lies a hidden bunker that for decades was one of Germany’s best-kept secrets. Built in 1962, the cavernous structure housed alternative deutsche marks , should West Germany’s Cold War foes flood the market with counterfeit banknotes in a bid to trigger hyperinflation.In the end, the back-up currency wasn’t needed and was destroyed in 1988. Concern among Germans over the security of their money persists, however.
One former bank employee said card and online payments already left her feeling like she had no control over her expenditures. Others reckoned a digital currency could leave Germany dangerously dependent on technology. “We envisage a digital euro as a digital form of cash that can be used for all digital payments, coexisting with physical cash, leaving no one behind,” ECB President Christine Lagarde said in October on X as the project’s preparation phase was launched.
Nagel, the Bundesbank chief, is optimistic that even his more senior compatriots can still be convinced of the merits of a digital euro.
Deutsche Marks Digital Currency Digital Euro Germans Hans Heinrich Kloeppel
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold ATH helps boost its ‘digital gold’ counterpart as Bitcoin recovers above $59kThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
In a digital world, you still need cash when travellingRob Carrick on travel planning, tricky mortgage payments, stock market returns and more
Read more »
Marathon Digital buys Bitcoin worth $249 mln: What’s next?Marathon purchases $249 million worth of BTC. The Recent purchases of 4144 bitcoins bring marathon's total holding to 25000 btc
Read more »
'Chaos agent': Suspected Trump hack comes as Iran flexes digital muscles ahead of US electionWASHINGTON (AP) — With less than three months before the U.S. election, Iran is intensifying its efforts to meddle in American politics, U.S. officials and...
Read more »
Digital EditorsHello Downtown Toronto! Do you believe in the importance of digital-first, hyperlocal news coverage? Village Media — a proudly independent, digital-first network of local news sources in 25 cities across the province — is searching for ex
Read more »
Dollar loses ground against euro as inflation data shows coolingThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »