Future of Digital Euro ‘Not Clear Yet,’ Former Eurogroup Official Says
Europe’s digital currency project has made some progress recently, with the Eurozone’s central bank moving to its next stage. Critics point, however, to the continuing lack of clarity around the design and purpose of the digital euro after a decade-long delay, if cryptocurrency is taken as a benchmark. Digital Euro to ‘Feel Like a Prepaid Card of Sorts’ A week after the European Central Bank (ECB) decided to proceed with its plan to create a digital version of the euro, experts have voiced concerns about its unclear future. On July 14, the Governing Council of the....
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The underlying architecture of the digital euro will be designed to have a negligible environmental footprint compared to Bitcoin and other crypto-assets. The European Central Bank, or ECB, joins the growing club of crypto-friendly financial institutions as it announces the decision “to launch a project to prepare for possibly issuing a digital euro.” The ECB’s official tweet noted:“We will look at how a digital euro could be designed and distributed to everyone in the euro area.”According to a press release on July 14, the ECB's governing council has launched the investigation phase of a....
Greece is on the verge of leaving the Euro. Whilst Eurozone capital markets are likely to deliver an initially muted response, we will see a long-term re-valuation of the price of peripheral Eurozone bonds and stock markets as investors price in the risk that other countries may, in time, follow Greece. The comments from Tom Elliott, International Investment Strategist at deVere Group, one of the world's largest independent financial advisory organizations, come as the Greek debt crisis is reaching a climax following Thursday's failed crunch talks with the Eurogroup finance ministers. It....
Talks in the Eurogroup took place Yesterday. Greece didn't manage to reach an agreement with its eurozone creditors. Despite its original intentions, Athens rejected eurozone's demands as the Greek finance minister ultimately described them as "unacceptable". In his statement after the Eurogroup, he claimed that the text in the draft shown to him was changed during the Eurogroup meeting with a document he could not accept. The creditors really have Greece on a tight leash as they told Greek officials that they have until Friday to request an extension to the current bailout or Greece will....
With concerns about financial stability in mind, the European Central Bank (ECB) plans to limit digital euro holdings, according to Board Member Fabio Panetta. The plan is to have a maximum amount of digital cash in circulation similar to that of euro banknotes today, the official unveiled.
Eurozone’s Central Bank to Keep Total Digital Euro Holdings Below 1.5 Trillion
A digital euro could potentially lead to the conversion of a large share of bank deposits in the euro area into digital cash, Member of ECB’s Executive Board Fabio Panetta warned in a statement at the....
The European Central Bank should rely on public-private cooperation for issuing a digital euro, an exec at BBVA’s digital regulation team said. An executive at major Spanish bank Banco Bilbao Vizcaya Argentaria (BBVA) has raised concerns about the digital euro and questioned what customer demand it would meet.Pablo Urbiola of BBVA’s digital regulation team has called on European financial authorities to carefully explore the possible issuance of a central bank digital currency (CBDC).Urbiola said Friday at a European Banking Federation seminar that, despite the increasing need for a....