The European Central Bank (ECB) started working on a digital euro back in 2020, aiming to modernize the payment system and maintain the relevance of the currency in a digital world. Progress has been slow due to a lack of political urgency and resistance from the banking sector. European Commissioner Valdis Dombrovskis highlighted that nearly two-thirds of card transactions in the EU are managed by American companies like Visa and Mastercard, making Europe vulnerable. A digital euro could address this issue by providing a solution for online purchases and in-store payments. At the end of last year, EU governments agreed on the need for a digital euro accessible at any time, and the ECB estimates that it could be operational by 2029, after completing negotiations with the European Parliament.
Sources
UE are nevoie de euro digital pentru a-și reduce dependența de SUA, consideră comisarul Valdis Dombrovskis
UE are nevoie de un euro digital pentru a deveni independentă de SUA, spune comisarul Dombrovskis
Euro digital, soluția pentru a scăpa de dependența de SUA
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