Paris – “Introduced over 25 years ago, the euro symbolizes Europe’s significant leap toward sovereignty and enjoys considerable popularity, with 82% of European citizens in support. However, this valuable achievement may be at risk unless we ensure the essential role of +sovereign+ central bank money in the digital era,” stated François Villeroy de Galhau on Tuesday.
The Eurosystem has already initiated efforts to provide a digital euro for the public, which seeks to create a +digital banknote+ that embodies the qualities of cash in a digital format while maintaining the foundational role of central bank money, he emphasized at a conference in Paris.
Last month, “the Council of the European Union reached a unanimous decision in favor of this initiative, agreeing on a legitimate digital euro that encompasses both online and offline applications.” Following the anticipated vote in the European Parliament in May, a pilot project is expected to commence as early as 2027, with the digital euro potentially being launched in 2029, according to the governor. (6 January 2026)
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