![\"ECB](\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2022\/02\/lagarde1.jpg\")
<\/p>\n<\/p>\n
The president of the European Central Bank (ECB), Christine Lagarde, says that a digital euro will not replace cash but would complement it. \u201cA digital euro would give you an additional choice about how to pay and make it easier to do so, contributing to accessibility and inclusion,\u201d the ECB explained. \n \u201cLast year, we launched the digital euro project,\u201d she said. \u201cWe will investigate how a digital euro could offer a convenient, cost-free means of payment, allowing people to pay anywhere in the euro area with risk-free digital money \u2013 for example, when making payments online, which preclude the use of cash,\u201d the ECB chief continued, emphasizing:\n<\/p>\n In any event, a digital euro would complement cash, not replace it. This is also why we launched the process for redesigning our banknotes.<\/p>\n<\/blockquote>\n \n The ECB website details: \u201cThe digital euro would still be a euro: like banknotes but digital. It would be an electronic form of money issued by the Eurosystem (the ECB and national central banks) and accessible to all citizens and firms.\u201d It adds:\n<\/p>\n A digital euro would give you an additional choice about how to pay and make it easier to do so, contributing to accessibility and inclusion.<\/p>\n<\/blockquote>\n \n
\n
<\/strong>\n<\/p>\nDigital Euro to Complement Cash<\/h2>\n
\nECB President Christine Lagarde talked about the digital euro at the plenary session of the European Parliament Monday on the 20th anniversary of the introduction of euro banknotes and coins.<\/p>\n\n
\nThe European Central Bank launched a two-year investigation<\/a> into a digital euro in October last year. \u201cOnce the investigation phase has ended, we will decide whether or not to start developing a digital euro. We would then create and test possible solutions, working together with banks and companies which could provide the technology and the payment services,\u201d the ECB clarified.<\/p>\n\n
\nMeanwhile, the European Commission is planning to put forward a bill to lay down the legal foundation for a digital euro. The legislation will support the ECB\u2019s work on the digital euro. \u201cOur goal is to table legislation in early 2023,\u201d said<\/a> Mairead McGuinness, European commissioner for Financial Stability, Financial Services, and the Capital Markets Union.<\/p>\n