Christine Lagarde invites public comments on eurozone CBDC

Christine Lagarde, former Managing Director of the IMF and current President of the European Central Bank, has invited public commentary on a potential eurozone central bank digital currency (CBDC):

We are still in the review and considerations stage, but we’ve just launched a public consultation so that consumers and Europeans can actually express their preference and tell us whether they would be happy to use a digital Euro just in the way they use a Euro coin or a Euro banknote knowing that it is central bank money that is available and that they can rely upon.

Christine Lagarde, former Managing Director of the IMF and current President of the European Central Bank

Christine Lagarde explaining the possibility of launching a digital euro (second video)

The comments on a possible CBDC were part of a larger series of reflections on what Lagarde described as a “difficult year.” 

As Europeans are increasingly turning to digital in the ways they spend, save and invest, we should be prepared to issue a digital euro, if needed.

Christine Lagarde, former Managing Director of the IMF and current President of the European Central Bank

Among the topics discussed were the impact of the Coronavirus and how the ECB responded, the importance of examining how bank policy could combat climate change, and how cryptocurrencies might better suit modern lifestyle choices on the part of Europeans.

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