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26 July 2021

Future of Digital Euro ‘Not Clear Yet,’ Former Eurogroup Official Says – Finance Bitcoin News

Future of Digital Euro ‘Not Clear Yet,’ Former Eurogroup Official Says – Finance Bitcoin News


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Europe’s digital currency project has made some progress recently, with the Eurozone’s central bank moving to its next stage.

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.

What’s known so far is that the digital euro is supposed to represent euro notes and coins in electronic form.

Commenting on the start of the investigation phase, ECB President Christine Lagarde stated last week that the “encouraging results” from the analysis and experiments conducted over the last nine months have led the central bank to “decide to move up a gear and start the digital euro project.” Toussaint du Wast described the move as “desperate and hopeless,” emphasizing:.

One of the main motives behind the digital euro project is the desire of the European Central Bank to keep a grip on currency sovereignty, Euractiv notes, and the ECB isn’t going to admit defeat.

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