Facebook’s original motto: “Move fast and break things.” France’s finance minister Bruno Le Maire : Non merci, not our global economy, you don’t.
Last week, on Thursday, 13 September, Le Maire said in a speech at the OECD Global Blockchain Policy Forum 2019 – a digital currency conference – that he sees Facebook’s forthcoming Libra cryptocurrency as a “danger to consumers”, a “systemic risk” and a threat to France itself : Our monetary sovereignty is at stake. The existential threat seen by France and other governments: that Facebook’s more than 2 billion users, investors, consumers, and the broader global economy could become entangled with a risky currency that sets them up for having to bail them out. Governments, including France last week and the US, the EU and the UK earlier in the month, have said that they might have no choice but to bail out Facebook if Libra goes off the rails, since it would be too big to fail.
