Why does Europe need a digital euro?

Europe needs a digital euro to guarantee its autonomy from payment providers outside the region and prevent growing vulnerabilities.

What is the current reliance of Europe on payment systems?

Europe is currently significantly reliant on non-European payment systems, a dependency that is expected to increase.

What are the risks of not developing a digital euro?

Not developing a digital euro would mean accepting a structural vulnerability for the functioning of the economy.

Home / Business and Economy / Europe's Digital Euro: A Fight for Autonomy

Europe's Digital Euro: A Fight for Autonomy

30 Jan

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Summary

Europe faces growing reliance on non-European payment systems.
A digital euro is crucial for ensuring European autonomy.
Delaying a digital euro creates a structural economic vulnerability.

Europe's Digital Euro: A Fight for Autonomy

European Central Bank Executive Board member Piero Cipollone highlighted the urgent need for Europe to develop its own digital currency. He stated that the region is currently heavily dependent on payment providers originating outside of Europe.

Cipollone warned that without action, this reliance is projected to increase significantly. He emphasized that payment systems are critical infrastructure, and delaying the creation of a digital euro would expose Europe to a lasting structural vulnerability.

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