Oh, that actually makes sense. It atleast explains why interest can be nagative on bunds. It's money with a back-up copy in e.g. the Central Bank if you lose it.
Why make the fuzz and having bunds in the first place and not just have the Central Bank offer accounts with a card connected? The bund system seems like an arcaic paper thing that made sense 40 years ago.
Why make the fuzz and having bunds in the first place and not just have the Central Bank offer accounts with a card connected? The bund system seems like an arcaic paper thing that made sense 40 years ago.