A Digital euro

Key points

The EESC:

• supports the steps taken by the ECB-Eurosystem towards the introduction of a digital euro and will continue to monitor the ECB's work on this project; 
• considers financial and digital inclusiveness to be very important in the introduction of the digital euro. Thus, it expects that the digital euro will benefit everyone in the euro area. The digital euro should enable payment transactions to be carried out more quickly and more efficiently;
• stresses that while all of the positive aspects and opportunities offered must be taken into account when considering the adoption of a digital euro, all of the potential risks must also be pointed out, especially in relation to the financial sector;
• considers financial stability to be one of the key issues when moving towards the introduction of a digital euro and calls on the ECB to take all necessary measures in the area of supervision to counter unlawful transactions, particularly for the purposes of money laundering and terrorist financing (AML/CFT), as well as to combat cyber-attacks;
• sees scope for making the payment system more efficient and competitive by the introduction of a digital euro, which could reduce risks while promoting financial stability;
• calls on the ECB to set out various design options given the complexity of the project that is strongly influenced by the current dynamic development of innovative technologies;
• underlines the importance of enabling both online and offline transactions. Furthermore, in cross-border payment transactions, systems will need to be compatible with each other;
• stresses the need for civil society to be involved in the next stages of preparations, negotiations and discussions on the introduction of a digital euro given that this is a complex and particularly demanding project, which concerns every resident of the Member States of the European Union.