Bundesbank survey Germans are skeptical about the digital euro

Status: 16.06.2021 1:05 p.m.

The corona pandemic has further reduced the use of cash, also in Germany. According to the Bundesbank, Germans would be skeptical about the introduction of a digital euro. The European Central Bank (ECB) wants to decide this summer whether the introduction of a digital euro should be seriously tackled. This was announced last week by Burkhard Balz, board member of the Bundesbank. But the majority of Germans are skeptical about this project. Around 56 percent of all households surveyed were cautious in their initial assessment of the possible introduction of a digital euro, said Bundesbank board member Johannes Beermann yesterday in a speech at a cash conference of the German central bank. “Many of them are not convinced that this would offer sufficient additional value compared to the existing range of payment options.” Among other things, Beermann is responsible for the issue of cash on the board of the Bundesbank.

01/21/2021

Largely unknown project

In addition, according to the survey results, 77 percent of all respondents have never heard of or read about a digital euro. And those who know about it, fear in the first place that their personal data is not adequately protected. The security of the new means of payment also raises questions among the population, as does its availability within the entire euro area and the avoidance of additional costs. According to the central bankers, the digital euro could help on the way to the Smart Economy or Economy 4.0 by enabling programmable payments and supporting processing using modern technologies. However, the Bundesbank executive also emphasizes that the digital euro is not intended to be a substitute for cash. It is about a complementary offer. “As long as there is demand for cash, we will also offer cash,” said Balz.

04/16/2021

Cash as a safety cushion

ECB Director Fabio Panetta presented surprising figures on cash use during the Corona crisis at the Bundesbank conference. Accordingly, during the pandemic, people in the euro zone increasingly used cash as a safety cushion, although they made greater use of cashless forms of payment when shopping. According to Panetta, the demand for euro banknotes increased by 190 billion euros between March 2020 and May 2021. When comparing the volumes issued in spring 2020 with the average volumes of the past five years, this is an increase of four percent. At the same time, during the pandemic, significantly less purchases were made with notes and coins. “This seeming paradox – an increasing demand for banknotes despite a decline in cash payments – may be explained by the fact that people used cash as a means of dealing with uncertainty during the crisis,” said Panetta. Recent estimates suggest that even before the pandemic, only around 20 percent of the total amount of euro banknotes in circulation in the euro area had been actively used for payments. Panetta therefore assumes that euro notes and coins will survive the digital revolution.

“I agree that vulnerable people want to wear masks as a precaution, but that’s their own choice,” Andrew said. When someone asked why he didn’t wear them when he went to public places such as supermarkets, subways, he lied, “I am exempt from wearing masks”. Many men refuse to wear masks because they consider it a sign of lack of masculinity and weakness. Photo: Cottonbro / Pexels. According to the The Independent Wearing a mask is the most important method to prevent the virus from spreading. The World Health Organization has been urging people to wear masks since June 2020, a scientific review published in July of the same year in the Journal of the American Medical Association described it as “an important important” in the fight against Covid-19. However, the disturbing fact is that there is a large number of people who refuse to wear masks like Andrew, the majority of which are men. A survey of 2,459 people in the US conducted by two academics at Middlesex University (London) and the University of Berkeley (California, USA) in May 2020 found that men are not only less likely to wear masks in public places. women, many of whom even consider wearing them “embarrassing, uncomfortable and a sign of weakness”. “Wearing a mask is a sign of weakness” Even when he tested positive for Covid-19 and had to be hospitalized, former US President Donald Trump still wanted to show that he did not need a mask, he took it off while standing on the steps of the White House after returning from the hospital. institute. “I don’t wear a mask like him. Standing a few dozen meters away, he was still wearing the biggest mask I’ve ever seen,” Trump said of President Joe Biden during the September 2020 debate. Trump seems to be implying that not wearing a mask means he is showing overwhelming strength against his opponent. Many men believe that only vulnerable people need to wear masks. Photo: Rex Features. A study conducted by the Kaiser Family Foundation, an American NGO that focuses on public health issues, found that 68% of women regularly wear masks when leaving the house, this number in men is 49%. Emma Lygnerud Boberg, gender and program development consultant at International Media Support (Denmark), said: “This is a trend that we have seen before, where men appear to be reluctant to adopt measures. preventive measures than women”. She further notes that this is also consistent with other data, like men wearing seat belts less often than women. Peter Glick, an expert at Lawrence University in Wisconsin, says that men seem willing to take greater risks in everyday life, and that there are toxic gender stereotypes that force men to flex their muscles and fear. hurt. “Men are socialized to be dominant and independent. All these characteristics are intended to reinforce patriarchal norms that present masculinity as a performance. Wearing a mask can be interpreted as It shows weakness in some men. It shows that they are openly afraid of this virus, which means breaking courage,” he told The Independent. Toxic gender stereotypes Preliminary research by James Mahalik, Boston College professor of Developmental Educational Psychology, and doctoral fellows Michael Di Bianca and Michael Harris suggests that individualist tendencies and skepticism toward science Education can be directly related to whether or not a person will accept wearing a mask. To find out why some men refused to wear masks, Mahalik surveyed 596 men across 49 states, of various ages, with incomes ranging from less than $10,000 a year to more than $200,000 a year. The survey asked each person to rate whether they identified certain masculinity standards and to express their thoughts on the Centers for Disease Control and Prevention (CDC) recommendations to minimize sexual harassment. spread of Covid-19. Toxic gender stereotypes are part of the reason some men don’t want to wear masks. In general, respondents felt positive about the Covid-19 prevention guidelines and said they adhered to them (since this was self-provided data, the researchers could not confirm that they actually wear masks all the time). Men who hold negative views on public health recommendations, such as social distancing and wearing face masks, also have traditional masculinity ideals revolving around emotional control, self-reliance, unity, and self-reliance. dominance, victory, power over women, and heterosexual self-expression. “We found that media masculinity saw less benefit from following CDC guidelines. They see more barriers, less trust in science, and they have less empathy for vulnerable or high-risk people,” Mahalik told Fast Company. Instead of trying to convince masculine men to change core elements of their identities, public health officials might consider reducing individualism in men by focusing on more socially friendly aspects of traditional masculinity.