🏛️💶 European Parliament endorses digital euro for EU sovereignty

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The European Parliament has approved two key amendments supporting the digital euro, aimed at enhancing EU monetary sovereignty and reducing reliance on third countries. The amendments received broad political backing, with 438 votes in favor of the sovereignty amendment. The digital euro project, which has been in development since 2000, is set to enter a testing phase with a target launch in 2029. This initiative is seen as crucial for maintaining financial independence amid global economic challenges.

Key points

• The European Parliament approved two key amendments supporting the digital euro.
• The digital euro aims to enhance EU monetary sovereignty and reduce reliance on third countries.
• The project is set to enter a testing phase with a target launch in 2029.
• Broad political support was evident, with 438 votes in favor of the sovereignty amendment.

Links

• teleborsa.ansa.it: Euro digitale riceve via libera Europarlamento: approvate due mozioni favorevoli
• ANSA: L'Europarlamento spinge l'euro digitale, "per la sovranità Ue" - Altre news - Ansa.it

Facts

• The digital euro project aims for a launch in 2029.
• The first amendment received 420 votes in favor, while the second received 438.
• The digital euro has been under consideration by the ECB since 2000.
• Visa and Mastercard currently handle nearly two-thirds of card transactions in the Eurozone.

Quotes

• The introduction of a Digital Euro is essential to strengthen the EU’s monetary sovereignty — European Parliament Resolution
• We want to avoid depending on systems that are not in our hands — Piero Cipollone, ECB Board Member

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