Euro will also have a digital version. When will be launched
The European Central Bank (ECB) hopes that by the beginning of next year it will have all the political decisions to issue a digital euro and then will need two or three years to launch the currency, said Piero Cipollone, a member of the ECB Executive Board, during a conference, reports Reuters.
The ECB has been working for a digital version of the euro for years, but progress has been slower than estimated, especially because of the legislation that has not yet been adopted to allow the institution to act.
The financial turbulence after the election of Donald Trump as president of the US have increased the urgency of the Digital Euro, given that Europe is dependent on the big American companies for most digital payments, a potential financial vulnerability.
« I hope that everything will be done until the beginning of next year, even at the beginning of 2026. We need legislation in force and then for two or three years for the launch of EURO Digital, » Cipollone said when asked about the time of the legal framework.
A key obstacle is to obtain a political agreement from the EU member states, but it could be achieved before this summer. In contrast, the activity in the field of Digital Euro in the European Parliament could take longer, the ECB official appreciated.
Asked if Trump could accelerate the trial, the governor of the central bank of France, Francois Villeroy de Galhau, speaking at the same event, said he improved the determination of the ECB.
