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Crypto

ECB president says central bank money infrastructure should come before euro stablecoins

European Central Bank President Christine Lagarde said Europe should build a tokenised payment infrastructure based on central bank money, rather than prioritising private stablecoins, to strengthen the euro’s international role. She said expanding euro-denominated stablecoins to counter dollar-pegged tokens was not Europe’s best option. Lagarde pointed to the Eurosystem’s Pontes project and Appia roadmap, while warning of potential financial stability risks from stablecoins.

AI & Enterprise

IMF chief says AI will hit labour market like a tsunami, squeezing youth jobs

IMF Managing Director Kristalina Georgieva warned at the Davos World Economic Forum that artificial intelligence would hit labour markets like a tsunami. She said 60 percent of jobs in advanced economies and 40 percent worldwide would be affected, with many fundamentally changing. She said AI is replacing entry-level roles, making it harder for young job seekers and potentially lowering real wages for many in the middle class.