economy
The Rise of the European Currency
This stance increases the likelihood that both options will be adopted in further discussions in the Committee on Economy and Monetary Affairs.
TL;DR
- European Parliament supports a digital euro with online and offline versions.
- The digital euro aims to decrease Europe's reliance on US payment companies (Visa, Mastercard).
- The ECB believes the online and offline features will complement each other, similar to cash.
- A pilot project could begin in 2027, with a potential official launch in 2029.
- The project is seen as a key tool for enhancing European financial autonomy.