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© 2019 Bernard Marr, Bernard Marr & Co. All rights reserved
How World Leaders are Reacting to Libra
Since Facebook announced Libra, it’s faced criticism. Regulators and policymakers around
the world are concerned about Libra’s impact on financial stability. The EU launched an
investigation of the Libra Association on antitrust issues. In the United States, lawmakers
are pressing Facebook for a moratorium on the project until all issues can be analysed and
understood. Due to this and other concerns, it’s being reported that some of the original
supporters of Libra are backing out.
In France, Bruno Le Maire, the French Economy, and Finance Minister stated that they
could not "authorise the development of Libra on European soil” due to the threat to
monetary sovereignty.
Some world financial leaders have expressed concern that Libra threatens the financial
stability of nations. Facebook refutes these claims while pointing to the “stablecoin” aspect
of Libra and the reserve of currencies that backs it up.
A Libra spokesperson told The Independent: "We welcome this scrutiny and have
deliberately designed a long launch runway to have these conversations, educate
stakeholders, and incorporate their feedback in our design.”

Published in: Economy & Finance
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