A European Central Bank board member has said Europe must overcome its reliance on international payment providers – but that it is not the central bank’s job to come to the rescue and crowd out private sector initiatives. More than two-thirds of non-cash payments are made with overseas cards as most competing European providers tend to be focused domestically or regionally, Benoit Coeure told a conference on Tuesday. “Europe is at risk of losing its economic edge,” Coeure said. …read more
Source:: Yahoo Finance
