EU Nations Reach Consensus on Digital Euro Strategy

Digital Euro Agreement: EU governments have reached a common position on the digital euro, aiming to enhance monetary sovereignty and the euro's global financial role, particularly against U.S. dollar-denominated stablecoins.

Next Steps in Implementation: The European Parliament must finalize its position before negotiations with the Council can begin, with a potential pilot phase for the digital euro set for 2027 and a full rollout targeted for 2029.

Importance of Dual Availability: The EU Council emphasizes the necessity of both online and offline versions of the digital euro from the start, contrasting with some lawmakers' proposals for an online-only model.

Financial Stability Measures: To ensure financial stability, the EU plans to implement customer holding limits and a framework for compensating payment service providers, including capped fees during a transitional period.