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German Finance Minister Saw Libra's Rebranding Is "Wolf In Sheep's Clothing"

Mary Liu

Summary: According to Reuters, German Finance Minister Olaf Scholz said in a statement today that Libra is still a "wolf in sheep's clothing", even it rebranded to Diem to shake off the negative impression of regulators. The renaming is a formalism rather than a substantial change. ScholzLibra also emphasized the importance of monetary sovereignty, he said: "It ...

According to Reuters, German Finance Minister Olaf Scholz said in a statement today that Libra is still a "wolf in sheep's clothing", even it rebranded to Diem to shake off the negative impression of regulators. The renaming is a formalism rather than a substantial change.

ScholzLibra also emphasized the importance of monetary sovereignty, he said: "It is clear to me that Germany and Europe cannot and will not accept its entry into the market while the regulatory risks are not adequately addressed."

By Mary Liu

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