General view of the hemicycle as members of the European Parliament. | REUTERS/Reuters Tv
Members of the European Parliament voted in favor of two amendments to the European Central Bank’s annual report, signaling parliamentary support for the introduction of a digital euro that would be available for everyday use in shops, online, and person-to-person without charge.
The amended text argues that a digital euro is “essential to strengthen EU monetary sovereignty, reduce fragmentation in retail payments and support the integrity and resilience of the single market,” winning backing from 438 lawmakers against 158 opponents in the assembly vote.
The digital euro concept an electronic version of the euro issued by the European Central Bank has been under discussion for years and aligns with broader efforts to ensure Europe’s payment systems remain competitive and sovereign amid global technological shifts.
Although the resolution does not immediately make the digital euro law, the parliamentary backing marks a notable step ahead of formal negotiations with the European Council and the ECB toward establishing the legal framework needed for issuance.
Supporters say the digital euro could help Europe reduce reliance on private payment networks and better integrate digital finance across member states, while sceptics have raised concerns about privacy and the future role of cash.
