Urgent Digital Euro Rollout: Lagarde Emphasizes Critical Legislative Hurdle

Urgency for Digital Euro: Christine Lagarde, President of the European Central Bank, emphasizes the urgent need for a digital euro due to evolving payment landscapes, geopolitical considerations, and the potential for enhanced financial inclusion. However, its implementation is contingent on securing legislative approval from the European Commission and Parliament.

Legislative Challenges: The path to implementing the digital euro involves a complex legislative process that includes proposals from the European Commission, scrutiny by the European Parliament, and agreements among member states, all aimed at ensuring democratic legitimacy and addressing risks associated with the new currency.