After 20 years of trying to curb crime by getting rid of cash, the Swedes are beginning to realize that every economy needs cash—and that criminals are good at adjusting to circumstances.
CBDC is a paradox: it is a money based solely on trust that is structurally set up to destroy that trust. If people lose trust in the currency, the government would lose any control it had over the economy.
Nehammer’s plan, and that of his conservative People’s Party (ÖVP), is being viewed as an attempt to seduce voters away from the FPÖ in the run-up to next year’s parliamentary elections, which, the latest polls say, the FPÖ has a good chance of dominating.
