🧵 Our priority for the digital euro project has always been clear: to preserve the role of public money in retail payments by making it available in digital form, alongside cash, says Executive Board member Fabio Panetta.
Read the full speech https://www.ecb.europa.eu/press/key/date/2023/html/ecb.sp230123~2f8271ed76.en.html
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Panetta: People’s payment behaviour is changing at an unprecedented speed.
A digital euro would respond to the growing preference for electronic payments by giving people the option to pay with public money digitally, anywhere in the euro area and free of charge
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Panetta: A digital euro would be a European public good that people and firms should be able to access and use without barriers.
The ECB would not have access to personal data. Nor would it set any limitations on where, when or to whom people could pay with a digital euro
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Panetta: 2023 will be a pivotal year for the digital euro:
☑️ the European Commission will present its legislative proposal
☑️ we’ll end our investigation phase in autumn, bringing all design decisions together
☑️ we’ll decide whether to move to the realisation phase
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