The Élysée has confirmed the proposal of Emmanuel Moulin as the new governor of the Bank of France, replacing François Villeroy de Galhau. Moulin, until a week ago Macron's chief of staff, takes on a key role in financial supervision and monetary policy. The move, proposed by the prime minister, strengthens the Executive's control over the institution.
The technological impact on ECB financial supervision 🤖
The Bank of France coordinates with the ECB on implementing monetary policies and supervising financial entities. Moulin will need to manage the integration of digital payment systems, such as the digital euro, and banking cybersecurity. His experience in the Macron administration, focused on economic reforms, will be tested against the challenges of tokenization and artificial intelligence applied to fraud detection.
From chief of staff to guardian of the digital euro 🏦
Moulin is swapping the corridors of the Élysée for the vaults of the Bank of France. It is said his new position includes unlimited access to inflation charts and endless meetings on interest rates. At least he will no longer have to coordinate the president's agenda, though he might miss deciding who enters the Oval Office. Now his biggest dilemma will be explaining why the price of bread is rising.