Abstract
Significance The digital euro project is the most advanced central bank digital currency (CBDC) plan among Western economies. It promises enhanced strategic autonomy, faster payments and to make life easier for the unbanked. The experience of CBDCs in China and Nigeria underscores some likely challenges. Impacts For the Eurosystem, the costs of launching/running the digital euro will have to be weighed up against the expected benefits and risks. The target is to launch the digital euro in 2027, but most CBDC projects have been delayed after setbacks. The final Single Currency Package vote, including digital euro regulation, may be delayed to after the June parliamentary elections.
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