By placing its initiatives within the framework of the Eurosystem’s discussions on an “e-euro", the Banque de France will continue and enhance its investment and expertise in the area of innovation in payment infrastructures and means of payment. To this end, it has recently created an Infrastructures, Innovation and Payments Directorate. This Directorate will enhance its resources in this area and will, I hope, participate in the work carried out within the BIS Innovation Hub. On an operational level, this  commitment will soon lead the Bank, in close cooperation with market professionals, to conduct experiments with a view to integrating a CBDC into the procedures for exchanging tokenised assets. In this respect, a call for projects will be launched at the end of March 2020. Conclusion It is indisputable that the digitisation of the economy has been a source of progress in the field of payments and other areas, as it has diversified and streamlined the services offered to the consumer. However, despite this positive assessment, we must not overlook the growing interdependence of economies, and the sovereignty risks that this greater intermediation is likely to pose in a context of trade tensions. At the Banque de France and the ACPR, we are ready to assist the market in the transformations necessary to preserve and develop a robust and resilient European ecosystem, capable of ensuring the continued sovereignty of our monetary and financial system.
They are: •  Clause 1: Freedom for the Church. •  Clause 13: Protection for the “ancient liberties” of the City of London. •  Clause 39: No wrongful imprisonment. Perhaps the most famous clause. “No free man shall be seized or imprisoned, or stripped of his rights or possessions, or outlawed or exiled, or deprived of his standing in any way, nor will we proceed with force against him, or send others to do so, except by the lawful judgment of his equals or by the law of the land.”  •  Clause 40: Justice is not for sale. Added to that, the spirit of Clause 12 of the 1215 Magna Carta (dropped from all later reissues), that “no “scutage” or “aid” may be levied in our kingdom without its general consent…”, is clearly what would later become “no taxation without representation”: to establish a council (the embryonic embodiment of what would later become Parliament) to agree whatever new taxes the King might demand. Whatever their purpose at the time, the more universal clauses that remain on the statute book certainly resonate today. They in effect encompass the idea of the rule of law and of due process as a means to ensure justice.