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The Digital Euro: What the ECB’s Plan Means for the Single Currency
The digital euro is a new format designed to complement, but not replace, euro notes and coins. A digital form of cash, issued by the Eurosystem—the European Central Bank together with the national central banks of the euro area—it would be available to everyone in the euro area. It’s conceived as a risk-free currency for everyday payments. People and businesses could use it for making payments online, in stores and from one person to another. The ECB describes the digital euro as an “electronic form of cash for the digitalized world.” It has not yet been decided whether the digital euro will be based on ... (full story)