Lagarde Emphasizes Control and Adaptation as Key Drivers for Digital Euro

Christine Lagarde, President of the European Central Bank (ECB), emphasized the importance of introducing the digital euro. The main reasons for this include adapting to a world where digital payments are becoming increasingly common and ensuring that central bank money also has a digital form.

Lagarde stressed that it's not just about having a digital currency, but also about maintaining control over one's own currency and payment infrastructure. She noted that whoever doesn't control their payment infrastructure is potentially vulnerable.

The Eurozone has set a timeline for the launch of the digital euro, with negotiations between the European Parliament, governments of European countries, and the European Commission underway to adopt the final law by the end of the year. This would pave the way for the digital euro to be officially approved by the ECB on January 1, 2027.