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Europe’s $24 Trillion Breakup With Visa and Mastercard Has Begun
(europeanbusinessmagazine.com)
this post was submitted on 10 Feb 2026
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...for whose definition of functional? Because any additional overhead from having to bribe the government would inevitably impact customers. And while they're at it, they might as well come up with more ways to be anti-consumer and the bribed government won't stop them.
They might also just bend over to please their dictator instead of buying him off, so it's not even a given thay they will keep him from interfering
I get your point about the current government situation though. I'm just not convinced replacing a corrupt private company with another not-yet-quite-as-corrupt private company from a different country would improve things in the long run.
Functional in the sense that people are able to make transactions with their credit cards. Trump would have zero hesitation to just destroying that system as part of some tantrum if he had control of it. Private companies controlling it will at least fight to keep it working as that is in their best interest. Is it the best option for consumers? No, but it's the best option under the current administration. We have to deal with that problem before we start giving things over to government control.