As digital transformation rapidly sweeps across the global economy, the European Central Bank (ECB) is about to make a major decision to launch a digital euro. Margarita Delgado, deputy governor of the Bank of Spain, recently shared important insights into this upcoming change.
Advances in digital payments: the need to evolve
Digital payments have surged in global markets. Delgado highlighted this evolution, stressing a fundamental need: a digital euro that is more than just a currency, ensuring citizens can use central bank money in this new digital age. It promises to maintain Europe's strong financial heritage in an increasingly digital world.
With the rise of numerous digital assets, there is an urgent need for a payment solution based on European infrastructure and widely accepted throughout the eurozone. The digital euro seems ready to meet this need, combining value and functionality.
However, it will not be all plain sailing. Delgado was blunt about the potential challenges. She stated that “the issuance of a digital euro must not jeopardize the stability of the financial system.” Financial stability remains of paramount importance. The challenge for the ECB is to balance this stability with the needs of users of a digital euro. Delgado’s focus was clear: to create harmony between these key aspects.
ECB to make decision on digital euro soon
October will be a decisive month. The ECB will then decide on the future trajectory of the digital euro project. With so much at stake, this decision is expected to shape the financial landscape of the eurozone.
Delgado’s views are refreshing. She believes there is room for both a digital euro and private payment methods. She echoes the European Commission’s legislative proposals, claiming that digital currencies complement cash, not replace it.
Delgado believes that the digital euro is more than just a means of payment. It invites intermediaries to innovate and build value-added services on top of this base currency. By fostering an atmosphere of innovation, the digital euro can drive the development of new pan-European payment solutions. The goal? To compete with non-European players and consolidate the European payments market.
The Road Ahead
The journey to a digital euro is fraught with opportunities and challenges. Delgado’s insights offer a balanced view, stressing the importance of stability while supporting innovation. As Europe moves forward, the currency could redefine its financial landscape, securing its prominent place in the global digital economy. #数字欧元 #欧洲央行
