This would avoid custody and investment risks for stablecoins and underpin their commitment to reimburse coin holders at par value at all times. But other fundamental problems would then emerge. In fact, this would be tantamount to outsourcing the provision of central bank money. It could even threaten monetary sovereignty if a stablecoin were to largely displace sovereign money.
Employment and household income conditions have deteriorated as the unemployment rate has reached a new historical high, the ratio of job offers to applications remains at its lowest ever level, and winter bonuses have decreased significantly. Financial conditions are improving with the effects of the policy measures taken by the government and the Bank.