Despite pressure from experts and Macron’s recent endorsement at COP28, the ECB resists dual rates for green projects, claiming it’s inconsistent with fighting inflation. Is this a valid argument? Read more
On 28 June 2023, the European Commission released its long-awaited proposal for a digital euro. This proposal kickstarted a phase of political negotiations that should, all things being equal, lead to the adoption of a regulation of the first Eurozone central bank digital currency (CBDC). On 18 October 2023, the European Central Bank (ECB) announced that it was concluding its two-year investigation phase of the digital euro and moving towards the preparation phase.
The current proposal on the digital euro is a missed opportunity. However, it can still be remedied by the EU co-legislators. The European Parliament and European Council can still choose team people by ensuring that the digital euro has very similar benefits to public money (cash) today, that it is usable for people and that people can access it through non-profit/public intermediaries.