The European Union itself, not Visa and Mastercard, has undermined Europe’s ‘payments sovereignty’
Published on 21 September 2026
Introduction
It has become a new article-of-faith in the EU that Europe needs to reduce its dependence on Visa and Mastercard. This is justified in geo-political terms, on the supposed threat that the US President might decide to cut Europe off from the Visa and Mastercard systems.
The reverberation of this argument through […]