ECB to Decide Next Phase of Digital Euro Project Next Month

The European Central Bank’s Governing Council will assess the next steps for the digital euro project, as ECB President Christine Lagarde urges swift legislative action by EU governments.

Summary

The European Central Bank's Governing Council is set to decide on the next phase of the digital euro project after the completion of its preparation phase next month. ECB President Christine Lagarde has called for EU governments to act quickly and establish the necessary legislative framework to support the potential rollout of the central bank digital currency (CBDC).

Terms & Concepts
  • Central Bank Digital Currency (CBDC): A digital form of a nation's currency issued and regulated by its central bank.
  • Digital Euro: The proposed central bank digital currency for the eurozone, aimed at complementing cash and supporting digital transactions.