On Monday 29 September, speaking at the Baltic Digital Euro Conference, the European Commissioner for Economy, Productivity and Simplification, Valdis Dombrovskis, presented the project for a new electronic currency led by the European Central Bank, as a lever for strategic autonomy for the EU.
“Our currency must continue to evolve alongside the geopolitical and technological shifts reshaping our world. (...) The currency that will power the prosperity of 21 euro area countries must now fully embrace the technologies of the 21st century”, said Mr Dombrovskis in Tallinn (Estonia).
According to the Commissioner, the decline in the use of cash has increased the euro areas dependence on international card payment systems, thereby undermining Europe’s strategic autonomy, particularly in the face of the risk of security breaches or changes imposed by non-European providers.
“The digital euro can help to counter these risks by ensuring that the euro area retains control over its financial and payments infrastructure”, argued Mr Dombrovskis.
Following the political agreement reached by the Eurogroup on 19 September (see EUROPE 13713/7), discussions are gathering pace in the European Parliament and the EU Council, where the Danish Presidency aims to get agreement on a common approach by the end of the year.
According to a study, in addition to maintaining cash as a means of payment, security, ease of use and the free nature of a future digital euro are the three priorities of European consumers (see EUROPE 13717/15). (Original version in French by Bernard Denuit)