ECB President Stresses Urgency in Digital Euro Development

In a significant move to bolster Europe's financial independence, European Central Bank (ECB) President Christine Lagarde has called for an expedited approach towards the development of the digital euro. Addressing the European Parliament's Committee on Economic and Monetary Affairs, Lagarde highlighted the necessity of establishing a robust legislative framework to support this initiative.

Lagarde pointed out the dynamic changes in the global financial landscape, including the United States' focus on stablecoins and the integration of cryptocurrencies into reserve accounts. She emphasized the importance of both wholesale and retail digital euro, along with a secure payment infrastructure, to reduce Europe's reliance on non-European financial solutions and ensure operational autonomy.