Dutch MEP says digital euro must not lead to Canadian-style ‘social credit system’
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Marcel de Graaff recently argued that the digital euro must not infringe on citizens’ freedoms or lead to the freezing of bank accounts, as was done in Canada during the 2022 Freedom Convoy.
(LifeSiteNews) — A Dutch Member of the European Parliament has insisted that laws ensure a digital euro does not lead to Canada’s “social credit system.”
During an April 19 debate in Brussels, Dutch MEP Marcel de Graaff argued that introducing the digital euro must not infringe on citizens’ freedoms or lead to the freezing of bank accounts, as was done in Canada during the 2022 Freedom Convoy.
In Brussels, Dutch MEP @MJRLdeGraaff recently compared PM @JustinTrudeau‘s decision to freeze bank accounts of Freedom Convoy protesters critical of his government last year to a China-style “social credit system.”
What happened to the reputation of this once great country? pic.twitter.com/7t7162h57V
— Cosmin Dzsurdzsa 🇷🇴 (@cosminDZS) May 9, 2023
“Citizens’ greatest concern is that in the future the government will be able to limit what citizens spend their money on, such as meat products and fuels,” de Graaff said.
“Or that we get a form of a social credit system like in Canada, where your account is blocked if you are critical of the government,” he added, referring the Trudeau government’s decision to freeze the bank accounts of Canadians who supported the 2022 Freedom Convoy.
“That is why the digital euro must meet the following requirements: purchases must not be traceable to the product, the balance must also be immediately withdrawable as cash, and the balance must not be programmable,” de Graaff continued. “This must be laid down in law.”
While digital currency has been considered a possibility for some time, both Canada and Europe are now moving to make electronic money a reality.
In March, the E.U. proposed new regulations to force the acceptance of centralized digital euro. However, exactly how the system will work is still unknown.
Additionally, 20 out of 27 E.U. member states have adopted the digital euro, giving it the same value as cash. This decision may force businesses to accept a future European Central Bank (ECB) digital currency.