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Lagarde on the benefits of a digital euro

ECB
  • Q: Many people are worried about what will happen to them re the digital euro. Can you tell them why is the digital euro good for people like you and me?
  • A: Even if there is a digital euro, we will always have banknotes. The two would co-exist if and when there is a digital euro. The ECB previously launched a consultation throughout Europe on this issue. The information is currently being processed and a report will be produced when there are conclusions from the report. A digital currency where it has been piloted has been shown to be of use to all citizens, not something that is good for certain groups. A lot of issues need to be addressed e.g. compatibility with monetary policy, sovereignty etc.

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