Finance
European Central Bank president says ‘digital euro’ is needed but will never replace cash
Christine Lagarde said a digital currency would protect European resilience and end reliance on outside digital payment methods
A digital euro has a key role to play in safeguarding European payment autonomy, according to Christine Lagarde, European Central Bank President.
Lagarde said that it is not healthy for the EU to reply on a single source of payment for critical aspects of daily life, which she said was highlighted by Russia’s decision to weaponize energy supply following its invasion of Ukraine.
