A group of seventy economists and policy experts has urged the European Parliament to support a digital euro that prioritizes public interest, emphasizing its importance for maintaining Europe's monetary sovereignty. The coalition, including notable figures like José Leandro and Thomas Piketty, warns that without a public-centric digital currency, Europe risks becoming overly reliant on private stablecoins and foreign payment platforms, potentially undermining financial independence.
The economists advocate for a digital euro issued by the Eurosystem, accessible across the euro area, and free for basic transactions. They stress that the digital euro should complement, not replace, physical cash. The European Central Bank (ECB) is currently developing the digital euro, focusing on privacy, security, and features like offline payments, while ensuring compliance with anti-money laundering standards. Despite some skepticism regarding costs and adoption, the ECB is committed to advancing a digital euro that aligns with European values.
Economists Urge EU to Prioritize Public-Centric Digital Euro
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