April 21, 2021

ECB head: Digital euro will be created in the next couple of years

ECB head: Digital euro will be created in the next couple of years

European Central Bank President Christine Lagarde says she "anticipates" launch digital euro in the next couple of years.

The digital euro will appear within a few years.This opinion of the President of the European Central Bank (ECB) Christine Lagarde expressed at the virtual forum of the ECB.According to the head of the Central Bank, the digital version of the euro has the right to exist, if it will befaster, more reliable and cheaper for the end consumer.

"My hunch is that it will be a "digital euro"Created... We may well go in that direction."Lagarde said.

The chairman of the ECB believes that if the digital euro contributes to the best monetary sovereignty of Europe and greater autonomy for the euro area, it is worth itIn Lagarde's opinion, the ECB may launch a digital euro.to be two to four years old.

Under scrutiny

At the same time, the Chairman of the Federal Reservesystems (FRS) of the United States Jerome Powell and the head of the Bank of England Andrew Bailey have expressed their warnings about the legalization of digital currencies. Thus, the head of the Bank of England expressed doubts about the massive use of stablecoins, which can hardly be considered a reliable store of value.

The chairman of the ECB believes that if the digital euro contributes to the best monetary sovereignty of Europe and greater autonomy for the euro area, it is worth itIn Lagarde's opinion, the ECB may launch a digital euro.to be two to four years old.

"The plank for private staplecoins is set very high, and I don't think they've reached it"- he declared.

US Federal Reserve Chairman Powell was less critical in his statements and said that the regulator will "carefully and thoughtfully" consider the issue of issuing the national digital currency.

Lagarde has repeatedly noted the benefits of digitaleuro and adhered to the course towards digitalization of the economy. In early September, speaking at the Deutsche Bundesbank online conference on banking and payments in the digital world, Lagarde said that EU countries needed a digital euro. The head of the ECB also drew attention to the fact that European payment service providers lagged far behind the rest of the world.

ECB head: Digital euro will be created in the next couple of years

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