EU governments and the ECB clash over control of the digital euro, each fearing a possible destabilization of the banking system.

The ECB is developing the digital euro as a pan-European payment solution, but some EU governments say the central bank has amassed too much power. The dispute raises questions about the balance of power between the ECB and EU member states. There are also concerns about the ECB's possible exclusive influence over an instrument that could undermine banking stability.