Frankfurt, Brussels The digital euro has been discussed for years, and now the EU Commission’s draft law has been submitted to the Handelsblatt. It has the potential to fundamentally change the European financial system.
The digital euro should therefore be given the status of legal tender. In principle, this would also entail an acceptance obligation for retailers, both at the cash register and in the online shop.
Cash alone “cannot support the EU’s economy in the digital era,” says the draft justification. The digital euro is necessary in order to adapt to technological developments.
A digital euro would also give every citizen access to central bank money in digital form – this has so far only been available in the form of notes and coins. Central bank money is the only means of payment that is 100% fail-safe and is particularly valued by citizens in Germany.
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