ECB's Christine Lagarde Urges Legislative Action for Digital Euro Launch by October 2025 to Boost EU Competitiveness

The global context makes a project to make digital payments, just like cash, without paying commissions relevant.

It will take the withdrawal of five out of every 10 physical euros in circulation

Investment simplification: Council agrees position on the ‘Invest EU’ regulation to boost EU competitiveness

Investment simplification: Council agrees position on the ‘Invest EU’ regulation to boost EU competitiveness. Source link

The European Union is well advanced in its plan to introduce a digital euro, a strategic response to reducing its dependence on US payment systems. While Brussels is working on a unified set of rules for its use, Washington is focusing on stablecoins rather than a digital dollar. In contrast to the global expansion of China’s digital yuan, the ECB is currently considering a European-only use.

The last few months have been decisive for the European Union to see the vulnerabilities presented by its economic model in strategic sectors such as energy or defence. However, in this new era of autonomy, the European Central Bank (ECB) has also urged for the urgency of ensuring independence "for essential services such as daily payments" through the digital euro. "Without it, we run the risk of losing our monetary sovereignty", said Piero Cip…

ECB's Christine Lagarde Urges Legislative Action for Digital Euro Launch by October 2025 to Boost EU Competitiveness

The European Central Bank (ECB) plans to launch a central bank digital currency (CBDC), known as the digital euro, by October 2025