Germany’s central bank chief is not alarmed by Facebook Libra

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  • Germany’s central bank chief, Jens Weidmann, believes that Libra must answer all the questions before they go ahead.
  • He feels that if Libra delivers on its purposes, then it can be “attractive to consumers.” 

The president of Germany’s central bank and European Central Bank policymaker, Jens Weidmann has stated that he is in favor of Facebook’s Libra. As per Reuters, Weidmann said at a G7 meeting:

“There’s no reason to be alarmed but there’s reason to be vigilant.”

Weidmann also said that Facebook should only go ahead with Libra after answering all the questions posed to them. Facebook’s blockchain lead, David Marcus, recently revealed to U.S. senators and congressional representatives, that Libra will go ahead only after it has satisfactorily addressed all regulatory and ethical concerns. Weidmann also believes that if Libra delivers on all its promises, then  it can be “attractive to consumers.”
 

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