2023-10-18 22:06:42
The Governing Council of the ECB has decided to enter the preparatory phase for the digital euro. Image: picture alliance / Zoonar
The Governing Council of the ECB has decided on the preparatory phase of the digital euro. Bundesbank board member Burkhard Balz talks about what consumers get out of it, who bears the costs – and how he sees the future of cash.
Mr. Balz, the ECB Council has decided to start the preparatory phase for the digital euro. What does that mean?
The two-year investigation phase of the European Central Bank and the national central banks in the euro area into the digital euro has been successfully completed. Now a new stage begins. From now on the focus is: What should this digital euro look like – and what kind of rules do we need?
Is this decision a turning point – has the decision for the digital euro become irreversible?
No, in my opinion it is another step in a major project. The Governing Council of the ECB has not yet decided on the introduction of the digital euro. This is only possible once the legislators in Brussels, i.e. the European Council and the European Parliament, have provided a legal framework.
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