Digital euro, the ECB accelerates. Lagarde: "Ready in 2023

The President of the European Central Bank: “We are currently studying the key issues relating to design and distribution. Virtual currency catalyst for technological progress "

14 Jan 2022

F. Me.

The digital euro will be ready in 2023. The announcement comes from the president of the ECB, Christine Lagarde. in her speech at the Conference des organes specialises dans les affaires communautaires. "The European Central Bank is doing its part to prepare Europe for the new scenario traced by digital, in particular through the digital euro project - said Lagarde - We are currently studying the key issues raised by its design and distribution". The president of the ECB said so. The study will end in 2023 ".

“When this work is done, stakeholders, including Members of the European Parliament, will have to decide which way to go. A digital euro would give people access to a simple, secure and reliable means of payment, issued by the central bank, publicly guaranteed and universally accepted throughout the euro zone - Lagarde explained - A digital euro would give people access to a simple, secure and reliable means of payment issued by the central bank, publicly guaranteed and universally accepted throughout the euro area ”.

Finally, "it would also offer new business opportunities and act as a catalyst for technological progress and innovation: European intermediaries would be able to improve the services they offer to their customers and remain competitive as new players enter the payment landscape. This would also support the monetary and financial sovereignty of Europe ".

"The digital euro - she concluded - will not replace cash. In fact, in conjunction with the 20 anniversary of the euro, the ECB has decided to start a process of redesigning the banknotes to make them more easily recognizable to Europeans of all ages and backgrounds ".

According to Lagarde, Europe will emerge stronger from the pandemic. “Our joint response to the pandemic has shown what we can achieve when we act together - she stressed - We are emerging from the crisis stronger and with solid foundations to build on. But there is still a lot to do and we must not let our determination wane as the urgency of the crisis passes. "

"During the last French presidency of the EU - he added - President Nicolas Sarkozy said that 'Europe must give itself the means to play the role it must have in the new world that is emerging'. These words still ring true today; today that we have the opportunity to make decisions that will allow us to master the next phase of the challenges that we will have to face. This is the best way to show our fellow citizens and the whole world that the euro unites us and, by uniting us, makes us stronger ".