Don’t Rush Digital Euro Before New Commission in June 2024

The European Commissioner for Financial Stability, Financial Services and the Capital Markets Union, Mairead McGuinness, expressed that there is no urgency to advance the digital euro until after the upcoming European Parliament elections in June 2024. She believes the European Union’s project for a central bank digital currency (CBDC) should be approached “quietly and slowly” by the next European Commission, which will be formed following the elections.

McGuinness addressed the topic of the digital euro during a speech at the Brussels-based think tank Bruegel on September 6. She noted that the European Central Bank (ECB) is expected to make a decision on the project’s future in October, emphasizing the importance of thoroughly examining this option.