the German foreign Ministry urged the EU to create a similar SWIFT independent payment system

Foreign Minister of Germany Heiko Maas said that the European Union needs to develop independent of the US interbank system of information transfer and payment, different from the American system SWIFT.


At the moment, SWIFT is supported by most major international banks and corporations. Offer Europe to get away from SWIFT dictated by large-scale changes in the global financial system, the desire to strengthen the autonomy of the EU, the desire to maintain a nuclear deal with Iran and plans to protect European business from potential U.S. sanctions.

According to Maas, Europe and the USA with the years more and more “alienated from each other”, and the values and interests that shaped relations between the two regions for several generations, is no longer relevant.

“We will not allow to operate through our heads, and to harm us. So we see the sense in protecting European companies from sanctions from a legal point of view and to create an independent U.S. payment system — the European monetary Fund and the analogue of SWIFT,” said Maas.

The message appeared on the background of worsening relations between Germany and the United States related to disagreements regarding the Iranian nuclear deal. Maas believes that the deal is crucial for the stability of the middle East region and global monetary policy.

Recall that the German Bank Bitbond based Radoslaw Albrecht, from may 2018 uses the Bitcoin blockchain to conduct international payments, instead of the transmission system of Bank SWIFT messages.

Earlier we reported that the Russian members of the Association of corporate treasurers (ACC) prepare for testing, built on the blockchain system-analogue of SWIFT for transfer of financial messages.

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