On the site of the European network of top financial executives, SUERF, ‘Société Universitaire Européenne de Recherches Financières‘ in May an article was published, arguing that only the state should issue money.

The introduction:

As recent bank runs (Silicon Valley Bank, Signature Bank, First Republic Bank, Credit Suisse) have highlighted, the current two-tiered monetary system — where both the central bank and private banks create money — is too fragile for the digital age. The State (central bank) should exclusively issue money, thus severing the link between ‘money creation’ and the extension of private bank credit. Central bank digital currencies make possible the design of a monetary system that eliminates bank runs, shields the payment system from the financial system, and reduces the need for government intervention in the financial sector. Monetary policy would likely be more effective and financial cycles dampened.