Lagarde: Digital Euro Crucial for EU Sovereignty

European Central Bank President Christine Lagarde emphasized the importance of introducing the digital euro for the EU's payment infrastructure. In her view, it is crucial to have a digital form of central bank money as the world shifts towards digital payments.

Lagarde highlighted two key reasons why the digital euro is significant: sovereignty and control over currency and payment infrastructure. She noted that whoever does not control their payment infrastructure may be vulnerable.

The European Central Bank chief's comments come as the Eurozone outlines a timeline for launching the digital euro, with plans to officially approve it by January 1, 2027, exactly 25 years after euro banknotes and coins entered circulation.