Christine Lagarde: Digital euro could strengthen the European payment system
The president of the European Central Bank was in favor of launching a digital euro at a joint meeting of the parliamentary deputies of France and Germany on Monday
Faced with a still uncertain economic recovery, the president of the European Central Bank, Christine Lagarde, is in favor of the issuance of a digital euro which, in her opinion, would strengthen the European payment system.
This was revealed in a meeting on Monday with the deputies of France and Germany. The official recognizes that fiat money, or cash in bills and coins, continues to govern as a means of payment in multiple transactions.
However, Lagarde is committed to moving towards digitization, towards the launch of central bank-backed digital currencies, or CBDC as they are known in the cryptocurrency ecosystem.
“If (…) we deepen the single market, we not only benefit all Europeans (…) We also increase our autonomy and ensure that Europe is better protected in the world of tomorrow. As legislators, you have a crucial role to play in the design of policies that can revitalize our economies,” Lagarde has emphasized before the parliamentarians of France and Germany.
The president of the ECB believes that the digital euro would be a complement to fiat money. Lagarde did not make it clear in his speech if they are already working on a digital euro, or if it could help in the economic recovery of Europe.
The thing is to continue analyzing the economic and financial crisis caused by the Covid-19 pandemic, for which the ECB has injected about 1.35 trillion euros (1.6 trillion dollars) of newly printed money into the regional economy.
M.Pino
With information from news agencies
