Digital Euro — Many unresolved questions according to Christine Lagarde

27. Januar 2021

The technological backbone of the digital euro remains to be clarified according to Christine Lagarde.

A public consultation on the digital euro received more than 8,000 responses.

Christine Lagarde, President of the European Central Bank (ECB), spoke again about the launch of a potential digital euro.

Lots of unresolved questions

According to the President of the ECB , the technological foundations of such a currency remain to be clarified.

Christine Lagarde said in an interview:

“There are many questions that have not been resolved and which, when they are, will determine the technological form (…) It will take several years, it is a complicated question, which must be resolved without disrupting the financial scene. current nor endanger the transmission of monetary policy that we currently have. “

She also pointed out that the technological backbone to support the digital euro has not yet been chosen.

Public consultation

The ECB concluded its public consultation on a digital euro on January 12 and will take into account the 8,221 responses obtained.

Full analyzes of the results will be published in the spring, before the ECB’s Governing Council decides to launch a digital euro .

An initial analysis of the raw data shows that payment confidentiality ranks first among the characteristics required for a digital euro potential (41% of responses), followed by security (17%) and pan-European reach (10%).

Fabio Panetta, Chairman of the Central Bank’s Digital Euro Task Force, said:

The opinion of citizens, business leaders and all stakeholders is of the utmost importance to us as we assess the most suitable use cases for a digital euro.