The recent banking crisis shows that the financial system is broken. A digital euro designed for the people, not for private companies, could be the beginning of a more stable and safer public banking option.
We need a new financial system that serves people over private interests
The Eurogroup gets back on the digital euro.
The ECB is currently working on introducing a digital currency – to exist alongside banknotes – that citizens and firms can use for everyday payments. A digital euro would be safer than bank deposits and inherently more stable than crypto assets such as Bitcoin. However, many are worrying: How will the ECB make sure that the digital euro respects users’ privacy?
The European Central Bank recently closed a survey asking interested individuals and organisations for their views on a digital euro. Positive Money Europe responded to the survey, making clear what we view as important in designing a digital euro that truly benefits people.
International Monetary Fund head Christine Lagarde said central banks around the world should consider issuing digital currency.