Digital euro of ‘incredible importance’ to future of currency, Donohoe says

European Central Bank recently began preparatory work for to develop a platform and the needed infrastructure for the digital euro project

Paschal Donohoe: “It’s a project that even at this early stage is attracting an awful lot of interest and critique.” Picture: Fergal Phillips

Agreement on the rollout of a digital euro is still some years away but will be critical to ensuring the currency remains relevant in the years ahead, Paschal Donohoe has said.

The public expenditure minister was speaking in his capacity as president of the Eurogroup of finance ministers after the European Central Bank in October began the process of preparing for the project’s implementation.

A digital euro, Donohoe said, would effectively mean “a non-cash life” ...