Banknote

• The printing and writing paper market is expected to grow by USD 10.15 billion, progressing at a CAGR of over 2% during the forecast period.
• View the full release here: https://www.businesswire.com/news/home/20201106005424/en/
  Technavio has announced its latest market research report titled Global Printing and Writing Paper Market 2020-2024 (Graphic: Business Wire)
  The demand for printed catalogs is one of the major factors propelling market growth.
• Printing And Writing Paper Market: Type Landscape
  Based on the type, the printing paper segment is expected to post significant growth during the forecast period.
• Printing And Writing Paper Market: Geographic Landscape
  By geography, APAC was the largest market for printing and writing paper in 2019.

SPEECH

A digital euro for the digital era

Introductory statement by Fabio Panetta, Member of the Executive Board of the ECB, at the ECON Committee of the European Parliament

• [1] The quest to ensure that means of payment are fit for purpose has characterised economic history.
• In the provision of money by the sovereign, Europe can boast of a primacy dating back to ancient Greece[2] and the Roman era.
• Together, these two types of money would be accessible to all, offering greater choice and easier access to ways of paying.
• After publishing our report on a digital euro on 2October, we are now in a phase of listening and experimentation.
• But first I will outline the characteristics of a digital euro, as well as the advantages and the challenges it could present.
• I will also discuss some scenarios that could require the ECB to issue a digital euro.

What is a digital euro?

• A digital euro would fill this gap: it would be an electronic form of central bank money accessible to all citizens and firms in other words, a digital equivalent of euro banknotes.
• It would provide costless access to a simple, risk-free and trusted digital means of payment, accepted throughout the euro area.
• Compared with existing means of digital payments, a digital euro would provide added value in several ways.
• Finally, a digital euro would increase privacy in digital payments thanks to the involvement of the central bank, which unlike private suppliers of payment services has no commercial interests related to consumer data.
• Payments must also respect peoples right to privacy in the digital era, and the design of a digital euro would have to respect this principle.
• To summarise, the digital euro would still be a euro, only in digital form.

Why might we need a digital euro?

• A digital euro would be critically important in a number of scenarios, which are analysed in our report.
• In particular, it would be needed in the event that citizens become reluctant to use cash as they go digital.
• This is not the situation we face today: cash is still the most common way of making retail payments in the euro area.
• Such a development would raise regulatory and financial stability concerns and could even put Europes monetary and financial sovereignty at risk.

How could a digital euro be introduced? Legal considerations and possible challenges

• A digital euro would raise legal, technological and policy questions that we need to address.
• Today, only euro banknotes and coins are legal tender under EU primary law.
• [12] Therefore, a key issue discussed in the report is the importance for a digital euro to have legal tender status.
• It is crucial to ensure that, as a form of public money, a digital euro enjoys universal reach and acceptance, as the legal tender status provides.
• [13] Finally, the design of a digital euro would have to be consistent with key policy objectives.
• For instance, we could set the necessary incentives through the remuneration of digital euro holdings, to make sure the digital euro is an attractive means of payment, not a form of investment.

What next? Exploring design options, consulting the public and working together

• But introducing a digital euro is more than a technical question.
• The value of money in both physical and digital forms is rooted in citizens trust.
• For this reason, today we are launching our public consultation.
• We are seeking feedback on the design and on the financial and social issues surrounding the possible introduction of a digital euro.
• We welcome everyones views: citizens, merchants, the non-financial sector, professionals from the financial industry, technology companies, and academics.

Conclusion

• LOS ANGELES, Oct. 8, 2020 /PRNewswire/ --DoubleLine Capital LP today posted on DoubleLine.com a new paper titled "The Pandora's Box of Central Bank Digital Currencies," written by Bill Campbell, co-Portfolio Manager of the DoubleLine Global Bond Strategy.
• To obtain the paper, please click on this link:
  Central banks, Mr. Campbell writes, appear to be laying the groundwork for the creation of central bank digital currencies (CBDCs) by which they could make digital cash payments directly to consumers and businesses.
• In a survey published in January of this year, the Bank of International Settlements reported that 80% of the world's 66 central banks were engaged in work on digital currencies.
• The European Central Bank on Oct. 2 published a report by its Eurosystem High-Level Task Force on central bank digital currency on the possible issuance of a "digital euro" and announced the opening on Oct. 12 of a public consultation on the idea.

• According to Verified Market Research, the Global Anti-Counterfeit Packaging Market was valued at USD 4.90 Billion in 2019 and is projected to reach USD 17.47 Billion by 2027, growing at a CAGR of 17.25 % from 2020 to 2027.
• Rising government regulations and emphasis laid on exterminating counterfeit goods in developing and developed economies are estimated to drive the market.
• Additionally, the anti-counterfeit technologies are supported by favorable government policies in food and pharmaceutical packaging, which is also expected as a major driving factor for this market.
• (U.S.), AlpVision S.A (Switzerland), and Zebra Technologies Corporation (U.S.), SICPA Holding SA (Switzerland), Applied DNA Sciences Inc. (US), SAVI Technology, Inc. (U.S.)
  Verified Market Research has segmented the Global Anti-Counterfeit Packaging Market on the basis of Technology, Application, and Geography.