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13 May 2021

ECB Deepens Analysis of Digital Euro, Decision Expected by Mid-Year, VP Confirms – Economics Bitcoin News

ECB Deepens Analysis of Digital Euro, Decision Expected by Mid-Year, VP Confirms – Economics Bitcoin News


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Federal Reserve is preparing to present prototypes of a digital dollar in July, Facebook-backed, dollar-pegged diem is set to launch this year, and China has already offered its citizens to apply for a digital yuan wallet.

On this backdrop, the central bank of the Eurozone is now increasing efforts to thoroughly examine the option to issue its own digital currency, ECB Vice President Luis de Guindos revealed to the press.

He also confirmed that the bank’s Governing Council will decide around mid-2021 whether to initiate a project for the launch of a digital euro.

According to the English translation of the recent interview published by the ECB this week, de Guindos also noted that central banks have played a key role worldwide in dealing with the coronavirus pandemic, “and we must make sure we are also well equipped to deal with any future challenge, on all fronts.”.

It’s not trivial in terms of the potential implications for financial stability and for monetary policy, so we will have to calibrate this project to minimize any potential negative consequences it could have,” emphasized Luis de Guindos.

This is good news, because it will have a major impact on the economy… I hope that we will be in a much better situation by early summer,” de Guindos predicted.

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