The Digital Euro Round Table
Issuing a retail central bank digital currency (CBDC) has emerged as a high priority for most of the central banks around the world. Through this new financial instrument, central banks would open access to their balance sheets to the broader public more than ever before. So far, several countries have fully launched a digital currency, a dozen are running their own small-scale trial rollouts and many more are in the process of exploring and developing such an instrument.
Alongside this global effort, in October 2021 the European Central Bank (ECB) launched a two-year investigation phase of the digital euro project. The aim is to address key issues related to its design and distribution. As it has been made clear by the ECB, a digital euro would not replace physical cash, but rather complement banknotes and coins as an electronic equivalent. It would be offered to the general public, e.g. individual users (subject to certain holding limits), business users and governments or other public authorities, for retail payments.
From a geopolitical and central bank perspective, issuing central bank digital euro (CBDE) is quickly becoming a matter of necessity. Nonetheless, the possible implications of a CBDC are so pervasive that its design and implementation require careful examination and planning. Equally, a thorough understanding of the potential consequences is of crucial importance.
Main objective
The purpose of the Round Table is to spark a wider discussion and a more in-depth analysis on the possible impacts of a digital euro. Beyond the topics of privacy and inclusion that are a concern for citizens and have been largely discussed, a greater understanding is required regarding the impacts it could have on financial stability, European sovereignty and strategic autonomy on payments, as well as on interoperability.
Finally, the Round Table will put forward a list of policy recommendations and actions that can contribute to a more innovative, competitive and resilient European payments system, and facilitate the successful introduction and adoption of a digital euro.
Meetings
- First meeting - 25 April 2023
- Second meeting - May 2023
- Third meeting - June 2023
- Fourth meeting - July 2023
- Launch event - September/October 2023
Participation
The Round Table will be composed of a limited number of industry stakeholders, academics, and policymakers. Thus, participation would be limited only to the members of the Round Table (and their substitutes). If you would like to join the Round Table, please express your interest by completing the registration form.
Contact us
For any further queries, please contact: apostolos.thomadakis@ceps.eu.
