ECB Chief Lagarde Says Digital Euro Will Not Replace Cash — But Could Offer C...
The president of the European Central Bank (ECB), Christine Lagarde, says that a digital euro will not replace cash but would complement it. “A digital euro would give you an additional choice about how to pay and make it easier to do so, contributing to accessibility and inclusion,” the ECB explained. Digital Euro to Complement Cash ECB President Christine Lagarde talked about the digital euro at the plenary session of the European Parliament Monday on the 20th anniversary of the introduction of euro banknotes and coins. “Last year, we....
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"A digital euro could be a complement to, not a substitute for, cash," Lagarde said. Any digital currency released in the European Union may not fully replace fiat, said the President of the European Central Bank, Christine Lagarde.Speaking at an online meeting of the Franco-German Parliamentary Assembly on Sept. 21, Lagarde stated that the bank was exploring “the benefits, risks and operational challenges” of a European central bank digital currency (CBDC), but fiat currency would likely still play a role in this digital future. “A digital euro could be a complement to, not a substitute....
Former IMF Chief and President of the European Central Bank solicited input on possible CBDC In a Twitter thread on Sunday, Christine Lagarde, former Managing Director of the IMF and current President of the European Central Bank, invited public commentary on a potential eurozone central bank digital currency (CBDC). “We are still in the review and considerations stage, but we’ve just launched a public consultation so that consumers and Europeans can actually express their preference and tell us whether they would be happy to use a digital Euro just in the way they use a Euro coin or a....
The European Commission is going to present a legislative proposal for a digital euro in the near future, President of European Central Bank Christine Lagarde has indicated. EU legislators are expected to define the new currency’s legal tender status and determine its privacy features. EU Commission to Propose Legislation for Eurozone’s Digital Currency Authorities in the euro area have already made good progress in exploring the rationale and the potential benefits and risks of a central bank digital currency (CBDC), the head of the European Central Bank (ECB) noted during a conference....
ECB President Christine Lagarde says the impetus for a central bank digital currency could come from the need to facilitate cross-border finance.
The ECB will decide whether to proceed with digital euro pilots by mid-2021, Lagarde said. It could be a while before European Union gets a central bank digital currency, if it gets one at all.In a Wednesday interview with Bloomberg Television, European Central Bank President Christine Lagarde laid out the complex decision-making process with which the bank will determine the future of a digital euro.The ECB will soon release its analysis of eight thousand responses received from its digital euro consultation process. “That will be communicated to the European Parliament which is one of....