Lagarde Seeks Public Comments About a Digital Euro, Implying a Broad Retail Offering Is Now on the Table

The survey indicates a much more profound change in the way finance works is being contemplated.

AccessTimeIconNov 1, 2020 at 2:06 p.m. UTC
Updated Sep 14, 2021 at 10:26 a.m. UTC

European Central Bank President Christine Lagarde Sunday announced an ECB survey of public opinion regarding the issuance of a digital euro, implying the central bank is considering a retail central bank digital currency (CBDC), not just one intended for use between banks, which would represent a much more profound change in the way finance works, according to Noelle Acheson, CoinDesk's director of research.

  • "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. I’m also keen to hear your views on it," Lagarde said in a tweet announcing the survey.
  • While saying the ECB is still reviewing the possibility of issuing a digital euro, the central bank president said in the video embedded in her tweet, "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."
  • Lagarde's comments echo what Benoit Couere, head of the Innovation Hub at the Bank for International Settlements and a member of the bank's Executive Committee, said in a recent opinion piece on CoinDesk, according to CoinDesk's Acheson.
  • Such a confluence of opinions underlines these conversations about the likelihood of a retail CBDC are happening at the highest level, Acheson said.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Investing in the Future of the Digital Economy
October 18-19 | Spring Studio, NYC