Digital Euro Statement from the European Central Bank

Many countries have started to work on central bank digital currencies (CBDC) and make statements on the subject. This time, a digital euro statement came from the European Central Bank (ECB).

Digital Euro Statement from the European Central Bank

The European Central Bank (ECB) stated that it plans to complete the investigation phase of the digital euro project in the autumn of 2023.

A blog post by ECB President Christine Lagarde and board member Fabio Panetta outlined the key goals for the digital euro.

The post included the following statements about the digital euro:

The digital euro can only be successful if it becomes part of the daily lives of Europeans. It should add value compared to existing solutions.

In the post, it was stated that it is too early to determine the details of the design, but the investigation phase of the project is scheduled to be completed in the fall of 2023.

In addition, Lagarde and Panetta underlined that the digital euro is designed as a payment instrument, not an investment form.

In the post, it was stated that although it is too early to determine the design elements of the digital euro, some goals are clear.

The ECB launched its digital euro project in June 2021 and launched a two-year investigation into a central bank digital currency (CBDC) for businesses in October. The European Commission has said it will issue a digital euro bill in 2023.

In addition, in June, the European Central Bank made a statement that it may limit digital euro assets in order to ensure financial stability.