These days a test of a bad idea is that there is a rush to tell us that it is good for us. Remember how Kenneth Rogoff was deployed to effectively tell us how bad cash was which oiled the road to negative interest-rates? We do not hear from him now as the consequences of that for example Switzerland being down to only one major bank are hard for even people like him to deny. I find it hard not to think of that when I read things like this in the Financial Times. The European Central Bank has announced timelines to launch two digital euros: a retail one for the general public and a wholesale version accessible to the ... (full story)