Krautscheid: ECB plans to press ahead with digital euro

“We very much welcome the ECB’s decision to press ahead with its plans for a digital euro. Europe must not lose out to the US or China when it comes to digital money. This is not just a question of European sovereignty; it is also a matter of ensuring the security and stability of our currency. As intermediaries between the central bank and their customers, banks must play a key role in this system, too. Germany in particular, with its strong focus on Industry 4.0, is keen to ensure the success of this project. Our industrial customers need new digital payment methods in order to remain competitive on the international stage,” said Andreas Krautscheid, Chief Executive of the Association of German Banks.