EU lawmakers, led by MEP Ernando Navarrete, have proposed that the digital euro should only be launched if the private sector fails to create a unified payment solution for Europe. Navarrete's report suggests that the digital currency's online version should be contingent on the absence of a pan-European sovereign retail payment system. The proposal calls for EU executive bodies to conduct market testing to determine if conditions for a digital euro are met. This report will guide further discussions in the European Parliament. The European Central Bank supports a public payment method, but Navarrete argues that public demand could drive the development of a stable private solution.
EU Lawmakers Suggest Conditional Launch for Digital Euro
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