European Parliament throws support behind digital euro

European lawmakers have endorsed the ECB’s digital euro plans as a way to shore up the bloc’s monetary sovereignty, while reiterating that the central bank must remain independent.

The European Parliament has thrown its weight behind the European Central Bank’s (ECB) digital euro project in a vote that framed money and payments as a strategic asset in an era of rising geopolitical tensions. 

Lawmakers adopted the annual ECB report by 443 votes in favor, 71 against, and 117 abstentions, backing amendments that describe the digital euro as “essential” to strengthening European Union monetary sovereignty, reducing fragmentation in retail payments, and bolstering the integrity of the single market. 

The text places growing emphasis on how public money in digital form can curb Europe’s reliance on non‑EU payment providers and private instruments.

Read more