The digital euro will complement, not replace, cash, and the goal is not to trace payments, European Central Bank President Christine Lagarde told Euronews in an exclusive interview, rejecting claims that the project is designed to monitor citizens.
The European Parliament approved its negotiating mandate on Thursday, bringing the legislation a step closer to adoption by the end of 2026 after months of stalled talks.
The proposal initially faced criticism from members of the European Parliament, who argued that the digital euro could undermine privacy and eventually diminish the role of banknotes and coins as a means of payment.
"Let me celebrate the fact that the Parliament has endorsed massively the mandate for these negotiations that will hopefully be concluded by December," Lagarde told Euronews in an interview The Europe Conversation with Maria Tadeo.
The ECB president said the digital euro is intended to bring public money — currently available primarily in the form of cash — into the digital age as competition among jurisdictions increases. Like banknotes and coins, it would have legal tender status.
