The finance ministers of the eurozone countries have issued a statement on the introduction of the digital euro after a meeting in Brussels. The Eurogroup meets regularly to discuss the political dimensions of the potential digital currency, he said. The January 16 statement coincides with the publication of an "assessment" document from the European Central Bank (ECB). detailing the progress of the design of the digital euro.
The Eurogroup statement addressed the need for the European Central Bank and the European Commission to report to the Eurogroup and EU member states on progress in the creation of the digital euro, which is in its research phase. The statement said:
“The Eurogroup considers that the introduction of a digital euro, as well as its main features and design options, requires political decisions that must be discussed and taken at the political level.”
The group listed the issues it was looking at, which included the environmental impacts of a digital currency, privacy, financial stability, and related issues. He also expressed interest in the plans of non-euro zone member states of the European Union regarding central bank digital currencies.
"Breaking news: EU finance ministers adopt statement on digital euro and take control by stating that key features and design choices require political decisions. #EuroDigital #EUFinance #economy #fintech #chain of blocks #Crypto"
Here the results https://t.co/VAuUZSRDQe
— Jonas Frederiksen (@europe4crypto) January 16, 2023
The members of the group "are ready to contribute to these discussions", they assured and added:
"We also welcome the [European] the intention of the Commission to present in the first semester of 2023 a legislative proposal that establishes the digital euro and regulates its main characteristics, subject to the decision of the co-legislators.”
That proposal is intended to be presented before the ECB Governing Council reviews the results of the digital currency research phase in the third quarter of the year.
Related: Queen Máxima of the Netherlands speaks out in favor of the digital euro
The Eurogroup statement comes a day after a former Bank of England adviser published an editorial in the Financial Times. saying to create CBDC not worth the cost and risk.
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