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

The European Central Bank (ECB) aims to launch a digital euro by October 2025, contingent on new legislation. However, lawmakers have expressed reservations after a recent outage in the ECB’s payment system raised concerns about its reliability. President Christine Lagarde emphasized the urgency of launching the digital currency, which would represent the EU’s central bank digital currency (CBDC), contrasting with skepticism encountered from some EU member states. The decision will follow the legislative process, with significant discussions ongoing between ECB officials and various stakeholders.