The European Parliament has given clear support to the European Central Bank’s plan to introduce a digital euro.
Lawmakers treated the issue as a matter of strategic importance, especially as global tensions continue to grow and payment systems become more central to economic security.
Parliament approved its annual review of the ECB with 443 votes in favor, 71 against, and 117 abstentions.
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The approved text calls the digital euro “essential” for strengthening the European Union’s monetary policy, improving consistency in everyday payments, and supporting the stability of the single market.
The document also highlights how a public digital currency could reduce Europe’s dependence on foreign payment companies and private digital tools.
Lawmakers noted that a digital euro could provide Europeans with a reliable option issued by their own central bank, rather than relying on systems owned or influenced by actors outside the EU.
Members of Parliament also focused on the ECB’s independence. They stressed that the central bank must operate without political pressure.
Johan Van Overtveldt, an MEP and former Belgian finance minister, stated that “the independence of the ECB is not a technical detail”.
He warned that past examples show political involvement in central banks “invariably leads to inflation, financial instability and even nasty political turmoil”.
Ray Dalio, an American billionaire and long-time hedge fund manager, recently said central bank digital currencies (CBDCs) are likely to be introduced. How? Read the full story.
