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Naked Capitalism

The EU’s Digital Euro Is Just a Whisker Away from Becoming a Legal Reality

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A close-up shot of a 10 euro banknote placed on a smartphone, highlighting currency and digital technology.
Photo by Engin Akyurt on Pexels
  • The European Parliament has approved two amendments to the annual report on the European Central Bank's activities, paving the way for the introduction of a central bank digital currency (CBDC), with MEPs considering the digital euro "essential" in the current geopolitical context, as stated by Nick Corbishley, author of the article on Naked Capitalism.
  • The amendments, approved by a significant margin, emphasize the need for the digital euro to be universally accepted, both online and offline, with 420 votes in favor of the second amendment, which aims to safeguard universal access to payments and achieve broad acceptance by merchants throughout the Union.
  • The European Central Bank and the European Commission are expected to present their final legislative framework for the digital euro, which is likely to be approved, given the overwhelming support from MEPs and the 20 finance ministers of the Eurozone member states, as reported by sources such as Politico and the Financial Times.
Read original article at nakedcapitalism.com