As the prospect of a digital euro is coming closer, many technical as well as political questions have unfolded regarding the future of our money and payments’ system and its possible socioeconomic implications. Many of the upcoming decisions will be highly political and will have an impact on the daily lives of EU citizens.
This position paper aims at defining a Renew Europe position regarding the establishment of a digital euro in the EU. It focuses on defining what central bank digital currencies are and promoting a better understanding of their potential advantages. Moreover, it also aims to clarify the different sensitive issues at stake (such as privacy protection, the future of cash and the role of private banks, e-money and payment institutions as financial intermediaries) and to identify the potential trade- offs. Crucially, this document presents Renew Europe‘s position and political priorities on the design and uses of a future digital currency.