European Central Bank President Christine Lagarde said that Europe should abandon American and Chinese platforms such as Visa, Mastercard, PayPal and Alipay for the sake of the countries' independence. Her words are quoted by Business Today.
Lagarde called for "a payments revolution" that would end Europe's dependence on American and Chinese platforms such as Visa, Mastercard, PayPal and Alipay. Lagarde emphasized Europe's dependence on foreign digital payment infrastructure.
"Visa, MasterCard, PayPal and Alipay are controlled by American or Chinese companies. We must make sure that there is a European offer," the European Central Bank President emphasized.
Lagarde emphasized that Europe must create its own alternative to ensure financial sovereignty, which she called a "march towards independence."
As Ukrainian News Agency earlier reported, on April 3, US President Donald Trump imposed tariffs from 10% to 50% on imports, depending on the country of origin.
Recall, on February 2, EU leaders said they were ready to respond if Trump introduced tariffs on European goods.
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