📰 Episode Summary In this episode of MetaMarkets, hosts Jan Fritsche and Jón Egilsson sit down with Miguel Fernández Ordóñez, former Governor of the Bank of Spain and author of Adiós a los Bancos (“Farewell to the Banks”).Ordóñez argues that it’s time to end the banking monopoly on digital money — and to give every citizen direct access to public, risk-free money issued by the central bank. He explains why the current system is fragile, why crises like 2008 keep repeating, and how a Digital Euro could make money safer — if designed as an open public infrastructure, not as a tool to protect incumbents.From the collapse of Iceland’s banks to Europe’s MiCA regulation and the rise of stablecoins, this conversation explores how technology, competition, and monetary reform are reshaping the very foundations of finance. 💡 Key Topics & Ideas Why bank deposits aren’t “real money” — and what that means for financial stability The difference between public digital money and private bank money Lessons from the 2008 crisis: regulation vs. market failure How banking privileges block innovation Why the Digital Euro should be an open platform, not a state-run app Stablecoins and competition: the U.S. vs. European regulatory paths MiCA and the risk of reinforcing incumbent dominance “Banks are in favor of using digital euros — but against the Digital Euro”: unpacking the paradox Liberalization, not protectionism, as the key to progress in payments 🧠 Guest Bio: Miguel Fernández Ordóñez Miguel Fernández Ordóñez served as Governor of the Bank of Spain (2006–2012) and previously held senior roles in Spain’s Ministry of Economy and the European Central Bank.He is the author of Adiós a los Bancos, a groundbreaking book that challenges the foundations of modern banking and advocates for full monetary liberalization — enabling citizens to hold digital central bank money directly.His recent work focuses on the intersection of monetary reform, competition, and digital innovation.