If the digital euro is launched, its emission will be limited to €1.5 trillion. About it declared Member of the Board of the European Central Bank (ECB) Fabio Panetta.
According to him, the EU authorities are afraid that consumers can transfer all their money to a digital format, actually moving it to the Central Bank. This will deprive commercial banks of the funds they need to lend to individuals and businesses.
The limited issuance of the digital euro will help avoid negative consequences for the financial system and monetary policy of the EU.
“Now there are about 340 million people living in the eurozone, this will allow you to store from 3,000 to 4,000 digital euros per capita,” Panetta said in a statement.
He added that the consultations held by the European Commission in 2021 among citizens did not show much “enthusiasm for a digital euro.” This is partly due to the “complexity” of the technology for the average user.
However, Panetta urged not to attach too much importance to these conclusions, since “the consultation was not based on a representative sample of citizens.”
Recall that the initiative to issue a digital euro arose in November 2019. In October 2020, the ECB published a comprehensive report on this topic.
In May 2022, Fabio Panetta allowed the issuance of a digital euro until 2026.
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If the digital euro is launched, its emission will be limited to €1.5 trillion. About it declared Member of the Board of the European Central Bank (ECB) Fabio Panetta.
According to him, the EU authorities are afraid that consumers can transfer all their money to a digital format, actually moving it to the Central Bank. This will deprive commercial banks of the funds they need to lend to individuals and businesses.
The limited issuance of the digital euro will help avoid negative consequences for the financial system and monetary policy of the EU.
“Now there are about 340 million people living in the eurozone, this will allow you to store from 3,000 to 4,000 digital euros per capita,” Panetta said in a statement.
He added that the consultations held by the European Commission in 2021 among citizens did not show much “enthusiasm for a digital euro.” This is partly due to the “complexity” of the technology for the average user.
However, Panetta urged not to attach too much importance to these conclusions, since “the consultation was not based on a representative sample of citizens.”
Recall that the initiative to issue a digital euro arose in November 2019. In October 2020, the ECB published a comprehensive report on this topic.
In May 2022, Fabio Panetta allowed the issuance of a digital euro until 2026.
Read Cryplogger bitcoin news in our Telegram – Cryptocurrency news, courses and analytics.
Found a mistake in the text? Select it and press CTRL+ENTER
