‘March to independence’: Christine Lagarde wants EU to ditch Visa, Mastercard for own platform

8 comments

1. It’s certainly something they could do, even mandate its usage, though “ditching” the existing networks wouldn’t be easy and the devil is in the details such as whether it would be a government or privately run organization.

2. Why do we let politicians have ideas? Why do people feel such broad connections with old men and women who live in luxury and never have to face the consequences of their own actions? This is such a disastrous move. We are regressing for no reason.

3. That’s a hard no.

   Government is fine to provide an alternative but there will be a conflict of interest to ban other options. Crypto shows government can be insanely incompetent with new technologies….

4. It can totally be done. China has done it. The EU just needs to make it low cost and innovative (quite anti-European I know), everyone within will switch

5. You think Google and Apple Maps renaming “Gulf of America” is a small gesture of bullshit, but it signals that American big tech are 100% willing and ready to do whatever their supreme leader wants to.

   Imagine having your country’s social media or payment processing network turned off on a whim because some eunuch to the Mad Emperor’s side whispered some bad words about your country. China’s policy of digital autarky back in 2009 has been fully vindicated.

   At least we have Interac here in Canada lol. Maybe we can use Pornhub to replace social media when the Orange One has another rage fit and turn off AWS and Google services.

6. I find it so hard to care about these little European political theatre articles that get play on Reddit. It’s usually grandstanding since Trump got elected and picks spats with them, main subs eat it up but nothing ends up happening lol. It’s quietly walked back when reality comes back into play. The whole “troops to Ukraine” thing is a great example. I’ll believe it when I see a platform

7. I hope that this is an opportunity to have a new payment system that isn’t so moralizing against pornography and sex stuff.

   The shit that Mastercard/Visa pull on pornography companies is atrocious.

   These kinds of things are definitely a step forward in convenience but an absolute step backwards in privacy and moralizing bullshit.

   A middleman shouldn’t have a say in who I’m conducting business with.

8. Wasn’t EU payment system already planned like 5 years ago? And absolutely no progress was made towards actually making it a reality. Surely this time it will work lol

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