{"id":69737,"date":"2022-11-08T17:29:58","date_gmt":"2022-11-08T15:29:58","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=69737"},"modified":"2025-09-07T21:50:19","modified_gmt":"2025-09-07T18:50:19","slug":"ecb-chief-cbdc-will-bolster-eurozone-financial-sovereignty","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/ecb-chief-cbdc-will-bolster-eurozone-financial-sovereignty\/","title":{"rendered":"ECB chief: CBDC will bolster eurozone financial sovereignty"},"content":{"rendered":"<p>The digital euro will eliminate the risks of losing financial sovereignty in the euro area. This was stated by ECB President Christine Lagarde, <a href=\"https:\/\/www.theblock.co\/post\/183804\/a-cbdc-could-protect-euro-dominance-say-eu-leaders\">The Block<\/a> reports.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>The emergence of IT giants in the payments market could increase the risk of market dominance and dependence on foreign payment technologies with consequences for Europe\u2019s strategic autonomy,<\/em> she explained.<\/p>\n<\/blockquote>\n<p>In a similar vein, Thierry Breton, the European Commissioner for the Internal Market, said.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>We cannot allow anyone other than us, Europeans, to say what will happen in our digital payments market. [\u2026] We lack a pan-European appropriate solution. If we do not create it, others will,<\/em> he explained.<\/p>\n<\/blockquote>\n<p>According to Lagarde, the issuance<a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-central-bank-digital-currency-cbdc\"> CBDC<\/a> could mitigate these risks, bolster trust in the monetary system and foster innovation. The ECB president promised that the European Commission will soon<a href=\"https:\/\/forklog.com\/en\/news\/ecb-chief-promises-swift-digital-euro-legislation\">will present<\/a> a legislative proposal concerning such a possibility.<\/p>\n<p>US Deputy Treasury Secretary Nellie Liang said that, unlike the EU, Washington is not in a hurry to decide on a digital dollar.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>In the near term, we do not believe that the introduction of a CBDC with high probability will alter the fundamental role of the underlying structural factors of currencies,<\/em> she said.<\/p>\n<\/blockquote>\n<p>In July 2021 the research phase of the digital euro<a href=\"https:\/\/forklog.com\/en\/news\/ecb-clears-the-way-for-the-research-phase-of-the-digital-euro\">began<\/a>, which was expected to run until September 2023. It was envisaged that by that time the regulator would determine the advisability of issuing a CBDC.<\/p>\n<p>The initiative to issue the digital euro originated in November 2019. In October 2020 the ECB published a comprehensive report on the topic.<\/p>\n<p>In May 2022, Fabio Panetta, a member of the ECB&#8217;s Governing Council, allowed for the issuance of a CBDC by 2026 with an issuance cap of 1.5 trillion.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news on our Telegram \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The digital euro will eliminate the risks of losing financial sovereignty in the euro area. This was stated by ECB President Christine Lagarde, The Block reports.<\/p>\n","protected":false},"author":1,"featured_media":69738,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1753,1410,36],"class_list":["post-69737","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-digital-euro","tag-ecb","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/69737","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=69737"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/69737\/revisions"}],"predecessor-version":[{"id":69739,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/69737\/revisions\/69739"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/69738"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=69737"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=69737"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=69737"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}