ECB Targets October Launch for Digital Euro, but Lawmakers Raise Concerns

The European Central Bank President Christine Lagarde announced an intention to launch a digital euro by October 2025, contingent upon new legislation. However, lawmakers have expressed concerns over the ECB’s ability to manage the digital euro effectively, especially following a recent outage in the Target 2 payment system. While some officials highlighted the similarities between the digital euro and other successful payment systems, the ongoing debates underscore differing national perspectives within the EU on the necessity of a central bank digital currency.