A digital euro would provide an electronic payment method.
What would it be?
A digital euro would provide an electronic payment method accessible to all within the eurozone. It would combine security and user-friendliness, akin to the convenience of physical cash. Being a form of central bank currency issued by the ECB, it would distinguish itself from "private money," yet users could also make digital euro transactions using cards or mobile apps.
What might we need for a digital euro?
We are contemplating the introduction of a central bank digital currency (CBDC) in Europe to meet the rising demand for secure and reliable electronic payments. The issuance of digital currency by the central bank would serve as a cornerstone of stability for both the payment and monetary systems. Additionally, a digital euro would enhance the monetary independence of the eurozone while promoting competition and efficiency within the European payment industry.
The Necessity of a Digital Euro
A growing number of individuals are transitioning from cash to modern digital payment methods. Our goal is to protect the status of public currency as the cornerstone of our monetary system and uphold confidence in our currency.
The introduction of a digital euro would empower us to fortify both the monetary and payment systems. It would enable universal access to public currency for secure transactions across the entire eurozone.
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