EU constitutional Rubicons would be crossed if issuing Central Bank Digital Currency (#CBDC) would lead to banking disintermediation, depriving commercial banks of their funding base & removing the existing constraints on the monetary policy operations. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3329993 …
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Article 127 of the Treaty on the Functioning of the European Union (Aka Lisbon Treaty)
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