ECB's Lagarde: Digital Euro Will Not Replace Cash, Despite Fears
European Central Bank President Christine Lagarde has rejected claims that a digital euro is designed to replace cash or let the central bank monitor citizens' payments, in an exclusive interview with Euronews. Her comments come as the digital euro legislation enters a new phase following months of talks in the European Parliament. Lagarde's remarks aim to counter public skepticism that has slowed the project's progress.
European Central Bank President Christine Lagarde has moved to counter fears about a digital euro, telling Euronews in an exclusive interview that the planned digital currency is not designed to replace cash or allow the central bank to monitor citizens' payments.
Her comments come as legislation establishing the digital euro enters a new phase, following months of negotiations in the European Parliament. Lawmakers have pressed the ECB for assurances on privacy and the future role of physical cash before advancing the framework further.
Lagarde's intervention reflects growing awareness at the ECB that public skepticism, rather than technical hurdles, has become the biggest obstacle to the project. Officials hope clearer messaging on privacy protections will help unlock parliamentary support as the digital euro moves toward a possible launch in the coming years.
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