Facebook COO Sheryl Sandberg Photograph by Krista Kennell/Fortune Most Powerful Women

Not long after Yves Mersch, a member of the Executive Board of the European Central Bank, took a jab at Facebook’s proposed digital currency, Libra, France and Germany, two eurozone countries, have opposed the digital currency, saying it posed risks to the financial sector that could block its authorization in Europe. Both countries have supported the development of an alternative public cryptocurrency, which the European Central Bank recently announced it was working on.

The criticism from both countries sound similar to that of Mersch, who earlier opposed Facebook’s Libra, stating it posed a risk to the monetary control and oversight by EU member states. Mersch described the control of Libra, which will be overseen by a team of founding members who have put up at least $10 million each to get equal voting rights, as “cartel-like”. In a joint statement, France and Germany’s finance ministers, Bruno Le Maire and Olaf Scholz, said digital currencies pose risks to consumers, financial stability and even “the monetary sovereignty” of European states. “France and Germany consider that the Libra project, as set out in Facebook’s blueprint, fails to convince that those risks will be properly addressed,” they said.

The joint statement was issued at a meeting of eurozone finance ministers in Helsinki, Finland’s capital and most populous city. To be clear, the eurozone is a group of 19 EU countries that have adopted the euro as their common currency and legal tender.

The eurozone has said it’s considering a set of regulations for digital currencies, which are currently subject to little regulations.

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