The good news: Argentines might be able to use their phones to make electronic bank payments. “The credit will not recuperate,” he said, “if we don’t solve the structural problems that drag the Argentine financial system.” According to Sturzenegger, these changes would encourage long-term savings, as well as sustaining the current financial system and encouraging credit. Transfers can become immediate and easy, through a virtual bank note. At least, this is what Central Bank (BCRA) head Federico Sturzenegger advocated yesterday while presenting the Financial Stability Report.

Source: The Bubble August 02, 2016 19:30 UTC