Germany and four other EU countries are driving the digital euro

Brussels, Frankfurt The federal government is campaigning for the introduction of a digital euro. “The digital euro could play a decisive role in strengthening the strategic autonomy of the European Union and in promoting innovation in the financial sector,” says a strategy paper jointly published by Germany, France, Spain, Italy and the Netherlands a few days ago have written. The document is available to the Handelsblatt.

Behind the push of the five euro countries is the fear that without their own European offer, other digital currencies will gain in importance in Europe. At the same time, the power of international credit card companies in the European market could continue to grow. The upheaval in the payment system may even become so radical that the ECB’s monetary policy loses its economic steering power.