This is especially relevant given that the only viable alternative to physical cash is introducing some form of central bank digital currency. But, in the euro area at least, I cannot see this happening any time soon. Conclusion Ladies and gentlemen, The coin is still spinning through the air, and two outcomes seem conceivable at this juncture.
This, of course, gives rise to conflicts of interest, because after all, banks are not just a crucial element in the monetary policy transmission process; they are also subject to banking supervision.