CBDC will be used for control, ECB president admits in video chat with fake Zelensky

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A widely shared video of European Central Bank (ECB) President Christine Lagarde admitting that a digital euro will be used in a “limited” way to control the payments people can make has been taken from the prank video three weeks old.

The video was highlighted by the Watcher Guru news account on April 6 and generated a significant amount of discussion on social media. In it, Lagarde cited a desire not to depend on a currency from a hostile country or a currency provided by a private entity like Facebook or like Google. She said she was personally convinced that we must move forward with the digital euro.

Cointelegraph traced the video’s original source to a March 17 prank video in which Lagarde appears to be speaking more candidly than normal as she believed she was speaking to Ukrainian President Volodymyr Zelensky.

The pranksters had similar conversations with other public figures, such as Harry Potter author JK Rowling and former US President George W. Bush.

When “Zelensky” noted that the problem is that they [European protestors] do not want to be controlled by a central bank digital currency (CBDC), Lagarde admitted that there will be control, you are correct. You’re absolutely right, but you suggested it would be limited control, adding:

We wonder if for very small amounts, anything around 300 or 400 euros, we could have a mechanism where there is no control. But it could be dangerous

But Lagarde noted that terrorist attacks can, and have been, funded entirely by small, anonymous transactions.

Related: CBDCs Threaten Basic Freedoms of Americans Cato Institute

Lagarde’s comments were heavily criticized by the crypto community, especially regarding his mention that a digital euro would control people and payments.

Some users have seen the silver lining, suggesting that by making it clear where all of this is going, people will be pushed to use decentralized currencies such as Bitcoin (BTC).

The ECB launched a two-year investigation into a digital euro in July 2021 and reported on its progress.

The investigation is expected to end on September 29 and, according to Lagarde, a decision on whether to open it will be made in October.

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