Lena Petrova: The EU is Ditching VISA and MasterCard, Implements Digital Euro by 2029

As the world becomes increasingly digital, the importance of robust and independent payment systems cannot be overstated. However, a critical vulnerability has been lurking beneath the surface, threatening the financial sovereignty of the European Union. The EU’s heavy reliance on American payment infrastructures, particularly Visa and Mastercard, poses significant risks that cannot be ignored. Recent data reveals that Visa and Mastercard dominate between two-thirds and three-quarters of card payments in many EU member states. This level of dependence on US-based companies raises serious concerns about the EU’s financial autonomy, particularly in the event of a geopolitical crisis. If access to…