Bundesbank Executive Board member Burkhard Balz says that Europe should be aiming to create payments solutions and platforms of its own. “Here in Europe, we need to prevent a situation from arising in which American and Chinese payment systems are all we have left to choose between,” he said in an interview with Germany’s “Handelsblatt” newspaper.
The Bundesbank celebrates its 55th birthday on 1 August and continues to stand for an exceptionally strong orientation to stability. We discussed the highs and lows of this era with Bundesbank President Jens Weidmann and former Bundesbank President Helmut Schlesinger, who has been following the Bank’s fortunes since its beginning. The interview was conducted on 29 June 2012, shortly after the Brussels EU summit had cleared the way for a European banking union.