ECB President Seeks Public Comments About a Digital Euro

The European Central Bank (ECB) has launched a survey of EU residents about the digital euro. The head of the ECB, Christine Lagarde, announced it on her Twitter. According to the President of the ECB, public questioning has begun so that the Europeans can tell whether they would like to use the digital euro or not.

"A digital euro would make your daily payments faster, easier and more secure. It could support the digitalisation of the European economy and actively encourage innovation in retail payments," said Christine Lagarde, President of the ECB.

The research is being conducted to determine Europeans' opinion about the possibility of using the digital euro. To take part in the survey, you should register on the site, indicating the country of residence from the proposed list.

"A digital euro would preserve the benefits that the euro provides to all of us. It would help to deal with situations in which people no longer prefer cash. It would help cushion the impact of extreme events – such as natural disasters or pandemics – when traditional payment services may no longer function. It could also be crucial if people were to turn to foreign digital means of payment, which might undermine financial stability and monetary sovereignty in the euro area," said the ECB blog.

According to the Bank for International Settlements (BIS), the number of countries whose central banks are ready to issue digital currencies in the next six years doubled in 2019, reaching 36 banks in 2020.