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ECB’s Cipollone Says Digital Euro Needed to Safeguard Stability

Executive Board Member Cipollone highlighted that introducing a digital euro is essential to protect stability against possible large-scale disruptions.

Summary

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Terms & Concepts
  • Digital Euro: A proposed central bank digital currency (CBDC) issued by the European Central Bank to provide a secure and stable digital payment option.
  • ECB Executive Board: The governing body responsible for implementing monetary policy decisions of the European Central Bank.
  • Financial Stability: The condition in which the financial system operates smoothly, withstanding shocks without significant disruption.