EUROPE has obtained a draft proposal from the European Commission to provide the digital euro project with a legal framework. In this document, the digital euro is conceived as non-programmable and totally fungible. The Commission is due to adopt its proposal on Wednesday 28 June. The decision on whether or not to launch the digital euro will remain the prerogative of the Governing Council of the European Central Bank (ECB).
Financial stability
The digital euro should not and will not be...