Seventy economists urge MEPs to back public-interest digital euro

Seventy economists and policy experts have urged members of the European Parliament to support a digital euro that serves the public interest, saying it is essential for Europe’s monetary sovereignty and for guaranteeing access to central bank money as the economy becomes increasingly cash‑light.

The open letter, published under the headline “The Digital Euro: Let the public interest prevail!,” warned that without a strong public option private stablecoins and foreign payment giants could gain greater influence over Europe’s digital payments. Signatories named in the letter include former EBRD executive board director for the EU José Leandro and economist Thomas Piketty, and the authors describe the proposed central bank digital currency as a public good to be issued by the Eurosystem and free of charge for basic services, complementing rather than replacing cash.

The intervention comes while the European Central Bank is in the preparation phase of the digital euro project, working on a rulebook, technical architecture and offline functionality ahead of any final decision on issuance. The ECB frames the design as a public, pan‑European payment solution offering cash‑like access to central bank money, including offline payments, and says tools such as holding limits and tiered remuneration would preserve financial stability; ECB Executive Board Member Philip Lane has said the project aims to balance innovation, privacy and the continued role of banks.

Key Topics

Crypto, Digital Euro, European Central Bank, European Parliament, Eurosystem, Thomas Piketty