Coronavirus Large Business Interruption Loan Scheme and Digital euro: Difference between pages
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'' | ''Central bank digital currencies (CBDCs) - Eurozone - European Central Bank'' | ||
( | A digital euro is the idea of a possible central bank digital currency issued by the European Central Bank (ECB). | ||
:<span style="color:#4B0082">'''''Digital euro should complement cash - not replace it'''''</span> | |||
:"The Eurogroup... emphasised that the introduction of a digital euro, as well as its main features and design choices, require political decisions that should be discussed and taken at the political level. | |||
:Amongst other things, the statement also called for the environmental implications of the digital euro design to be considered and stressed that a digital euro should complement and not replace cash, and ensure a high level of privacy." | |||
: | :''ACT blog - Naresh Aggarwal - Central Bank Digital Currencies (CBDCs) and other digital currencies – March 2023.'' | ||
:<span style="color:#4B0082">'''''CBDC should anchor monetary stability & complement private sector activities'''''</span> | |||
:"In a recent presentation by Fabio Panetta (member of the Executive Board of the ECB), at the Annual Congress of the European Economic Association, he noted: | |||
:o Digital public money is the monetary anchor in a digital world. | |||
:o The importance of safeguarding monetary sovereignty. | |||
:o The need to enhance competition and efficiency in payments. | |||
:But also the importance that a CBDC was not too successful if it crowds out private sector activity." | |||
:''ACT blog - Naresh Aggarwal - Central Bank Digital Currencies (CBDCs) and other digital currencies – September 2022.'' | |||
:<span style="color:#4B0082">'''''No decision yet on euro CBDC'''''</span> | |||
[https://www. | :"In a recent speech the President of the ECB said that the central bank is launching a two-year investigation into a digital euro as more consumers switch from banknotes and cash. | ||
:The actual release of the ECB-backed cryptocurrency in the bloc’s 19 members could take another two years on top of the technology design and investigation stage (itself expected to take a couple of years). | |||
:In theory, if all goes to plan, the central bank could launch a digital currency by 2025 if European regulators give the project the green light. | |||
:She noted that the project would complement the existing banking system rather than trying to ‘jeopardise’ it adding that experiments to consider the merits of minting a ‘digital euro’ were going through a complex decision-making process. | |||
:The bank has not yet decided to issue a CBDC. " | |||
:''Association of Corporate Treasurers - Update on the Payments landscape - September 2021.'' | |||
== See also == | |||
* [[Britcoin]] | |||
* [[Cash]] | |||
* [[Central bank]] | |||
* [[Central bank digital currency]] | |||
* [[Cryptocurrency]] | |||
* [[Currency]] | |||
* [[Digital currency]] | |||
* [[Distributed ledger]] | |||
* [[e-krona]] | |||
* [[e-money]] | |||
* [[Environmental concerns]] | |||
* [[Eurogroup]] | |||
* [[European Central Bank]] (ECB) | |||
* [[European System of Central Banks]] | |||
* [[Fiat currency]] | |||
* [[Gold standard]] | |||
* [[Libra]] | |||
* [[Mint]] | |||
* [[Monetary]] | |||
* [[Money]] | |||
* [[Multi-CBDC arrangement]] | |||
* [[Retail central bank digital currency]] | |||
* [[Sand Dollar]] | |||
* [[Stablecoin]] | |||
* [[Wholesale central bank digital currency]] (wCBDC) | |||
==Other external resources== | |||
*[https://www.consilium.europa.eu/en/press/press-releases/2023/01/16/eurogroup-statement-on-the-digital-euro-project-16-january-2023/ Eurogroup statement on the digital euro project - January 2023] | |||
*[https://www.ecb.europa.eu/press/key/date/2022/html/ecb.sp220823~26022f4481.en.pdf Policy panel on central bank digital currencies - Fabio Panetta - European Central Bank - August 2022] | |||
[[Category:Accounting,_tax_and_regulation]] | [[Category:Accounting,_tax_and_regulation]] | ||
[[Category:The_business_context]] | [[Category:The_business_context]] | ||
[[Category: | [[Category:Identify_and_assess_risks]] | ||
[[Category: | [[Category:Manage_risks]] | ||
[[Category: | [[Category:Risk_frameworks]] | ||
[[Category: | [[Category:Risk_reporting]] | ||
[[Category:Financial_products_and_markets]] | [[Category:Financial_products_and_markets]] | ||
[[Category: | [[Category:Technology]] |
Latest revision as of 12:56, 18 March 2023
Central bank digital currencies (CBDCs) - Eurozone - European Central Bank
A digital euro is the idea of a possible central bank digital currency issued by the European Central Bank (ECB).
- Digital euro should complement cash - not replace it
- "The Eurogroup... emphasised that the introduction of a digital euro, as well as its main features and design choices, require political decisions that should be discussed and taken at the political level.
- Amongst other things, the statement also called for the environmental implications of the digital euro design to be considered and stressed that a digital euro should complement and not replace cash, and ensure a high level of privacy."
- ACT blog - Naresh Aggarwal - Central Bank Digital Currencies (CBDCs) and other digital currencies – March 2023.
- CBDC should anchor monetary stability & complement private sector activities
- "In a recent presentation by Fabio Panetta (member of the Executive Board of the ECB), at the Annual Congress of the European Economic Association, he noted:
- o Digital public money is the monetary anchor in a digital world.
- o The importance of safeguarding monetary sovereignty.
- o The need to enhance competition and efficiency in payments.
- But also the importance that a CBDC was not too successful if it crowds out private sector activity."
- ACT blog - Naresh Aggarwal - Central Bank Digital Currencies (CBDCs) and other digital currencies – September 2022.
- No decision yet on euro CBDC
- "In a recent speech the President of the ECB said that the central bank is launching a two-year investigation into a digital euro as more consumers switch from banknotes and cash.
- The actual release of the ECB-backed cryptocurrency in the bloc’s 19 members could take another two years on top of the technology design and investigation stage (itself expected to take a couple of years).
- In theory, if all goes to plan, the central bank could launch a digital currency by 2025 if European regulators give the project the green light.
- She noted that the project would complement the existing banking system rather than trying to ‘jeopardise’ it adding that experiments to consider the merits of minting a ‘digital euro’ were going through a complex decision-making process.
- The bank has not yet decided to issue a CBDC. "
- Association of Corporate Treasurers - Update on the Payments landscape - September 2021.
See also
- Britcoin
- Cash
- Central bank
- Central bank digital currency
- Cryptocurrency
- Currency
- Digital currency
- Distributed ledger
- e-krona
- e-money
- Environmental concerns
- Eurogroup
- European Central Bank (ECB)
- European System of Central Banks
- Fiat currency
- Gold standard
- Libra
- Mint
- Monetary
- Money
- Multi-CBDC arrangement
- Retail central bank digital currency
- Sand Dollar
- Stablecoin
- Wholesale central bank digital currency (wCBDC)