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18.11.2021

ECB's executive board member Panetta: We expect to develop prototype of digital euro in 2023

Fabio Panetta, the ECB's executive board member reported on the course of the digital euro project to the members of the Committee on Economic and Monetary Affairs of the European Parliament on Thursday. In his speech, the official said that they expected that the decisions related to the design of a digital euro would be narrowed down by the beginning of 2023, and its prototype would be developed in the following months.

Panetta also noted that the digital euro would be designed to be an efficient means of payment but also to preserve financial stability. And the ECB would be careful to ensure that the financial sector could adjust in an orderly manner, he added. 

According to the official, the key issues related to the design and distribution of the digital euro will be investigated by the ECB over the next two years to strike the right balance between different priorities.

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