The minister of finance and economic activist of France states that Facebook is not politically correct and Libra is a disagreeable thing and it will have a bad impact on the state of America and takes the ability to stand by itself.
Facebook is not politically correct, it should be stopped
He wrote in a Financial Times article that the Libra’s existence will finally open doors to the state changing laws of who could issue currencies. This will lead to a slow and unpredictable result that will backfire sooner or later.
Libra’s Alliance along with at least 20 other members has agreed on a proper charter in the last week. This event happened in Geneva.
He stated as of the creation of euro money in the back 1999 to prevent a single authority from issuing money, national members created a bigger European project to take care of this problem, but Libra is going to become the same thing and they will issue their medium of exchange. This event undermines the European act.
“The impact that this happening will have on the solidity of the financial systems will be huge, This will make confidential interests way more powerful, do we wanna do that?”
Le Maire questioned.
“This is not something that I would agree on, the policy of monetary systems which is one of the state’s most useful handles. It had fallen into the remits from individuals and not democracy.”
Le Maire restated his words on the social media, and said: “None of the political or sovereignty should be open to being most used by confidential stakes.”
Libra has an anti nation nature cause it is a medium of exchange that is issued by private authority. This is a danger to national money that drives the economies of many countries. Le Maire stated the issue:
“When peoples in a country have freedom of choosing their currency they will undermine the monetary sovereignty of their government.”
The need for new payment methods
Le Maire said that the cure to this disease is to create a new and cross country payment systems as well as creating new banks issuing digital mediums of exchange.
“China is the biggest performer in this field, we can not put a hand on hand let it be the only one,” he added.
German’s Scholz has prevented Libra from gaining prominence in their state, as France is deciding to take action on that. Although we are heading into a global economical movement many suggest that there should be blocks in the way of these kinds of democracy disruptors, as noted by Scholz and Maire.