US EditionDigital euro delay could leave Europe vulnerable, ECB warns
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17 Articles
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Digital euro delay could leave Europe vulnerable, ECB warns
The European Central Bank urged the European Union on Friday to swiftly press ahead with adopting a digital euro, warning that delays would leave the continent reliant on foreign "big tech" players.
Can the euro become a viable counterweight to the dollar? Eurozone finance ministers are increasingly vocal about the need to strengthen the common currency. New tools are being considered: from European stablecoins, to the digital euro, to increased issuance of common EU debt. The goal is one: greater European financial independence and a stronger position in the global market.
The Digital Euro - Clark Center Forum
From the mid to late 2010s, and into the early 2020s, there was a flourishing of interest in the idea of central bank digital currencies (CBDCs). By some counts more than 120 central banks have explored the idea of issuing a digital version of their currency. Unlike a typical cryptocurrency, a CBDC would be issued by a state. As Daniel Davies, somewhat cynically but perhaps accurately, noted in the Financial Times this week, many of these consul…
The electronic currency project has its supporters, but also many critics.
Urged to press ahead: Digital euro delay could leave Europe vulnerable, ECB warns
The European Central Bank warned that delaying the digital euro would increase Europe’s dependence on foreign "big tech" players, urging the EU to move quickly to protect European financial sovereignty while reassuring that cash would remain available.
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