The ministers of finance of the countries in the eurozone reaffirmed their support for efforts to prepare for the potential launch of a digital euro. Meanwhile, the single currency area’s monetary authority sought to reassure future users that the new currency will be “preserving privacy by default and by design.
What we plan to do is continue with our political engagement with the ECB and with the Commission as they move forward in their processes, because what the Eurogroup recognized today is that many decisions that await are inherently political. Following their discussions, the members of the group insisted that a digital euro should complement, and not replace cash, among other recommendations. The central bank digital currency should come with a high level of privacy they also said, and explained:
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