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Europe Daily Bulletin No. 12298

18 July 2019
ECONOMY - FINANCE - BUSINESS / Finance
Facebook's Libra currency does not meet conditions to be launched, according to G7 ministers
Chantilly, 17/07/2019 (Europe Agency)

G7 Finance Ministers and Central Bank Governors discussed Facebook's virtual money project Libra (see EUROPE B12277A24) more closely on Wednesday 17 July. Their conclusion is clear, according to several sources: several questions will have to be answered before it can actually take shape.

While ministers acknowledged the “real needs” for new payment systems to reduce cross-border payment costs, all participants expressed strong concerns about this project, a source from the French G7...

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