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Reviews Digital currency: Bundesbank President: Digital euro would be an important addition

00:02  27 september  2022
00:02  27 september  2022 Source:   wiwo.de

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Joachim Nagel, Präsident der deutschen Bundesbank. Foto: dpahttp://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA12gTES.img?h=152&w=270&m=6&q=60&o=f&l=f&x=211&y=63 © provided by Wirtschaftswoche Joachim Nagel, President of the Deutsche Bundesbank. Photo: Dpadata portal copyright =

A digital euro could, according to the Bundesbank, reduce risks and dependencies in international payments. However, he should not replace the cash.

A digital euro could, according to the Bundesbank, reduce risks and dependencies in international payments. A system based on European infrastructure could help Europe to free itself from dependence on certain providers, said Bundesbank President Joachim Nagel on Monday at a meeting of the central bank in Frankfurt. "Therefore, I also advocate that the euros system actively concerns the design change of money and drives the investigation of digital central bank money."

Verkehrsbetriebe: 9-euro tickets extend

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Nagel emphasized: "The introduction of a new state money form for the digital world, i.e. digital central bank money, would be another level of Development of state money according to coins and banknotes. Digital central bank money and the associated infrastructure would be an important addition to the previous payment options. ”

The currency keepers of the euro area have been examining the possible introduction of a digital variant of the European Community Currency for a while. In mid -July 2021, the European Central Bank (ECB) decided to raise the preparatory work to the next level: In a two -year examination phase, it is now about technology and data protection.

It has not yet been decided whether a digital euro will come. In any case, a digital euro would supplement the cash and not replace.

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ECB directorate member Fabio Panetta said at the Bundesbank conference that the project of the digital euro is about securing the stability anchor for the currency and payment system: “We would like to ensure that central bank money remains available for the general public and everywhere in the euro area can be used for everyday transactions-not only in its physical form, but also as a digital currency. ”

The work on a digital euro is a response from the euro central banks to the steep rise of so-called cryptocurrencies such as Bitcoin and ether. The big difference: In contrast, there would be a digital euro under the supervision of a central bank that ensures the stability of the currency. Other central banks worldwide also deal with digital central bank money.

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The Association of German Transport Companies (VDV) sees great potential in the new Germany ticket. People could change their mobility behavior permanently-more than it was possible with the 9-euro ticket. © Daniel Bockwoldt/dpa Is the 49-euro ticket introduced on March 1st? "We expect to make a contribution to climate protection that we will get more passengers," said Oliver Wolff, general manager of the association, the German press agency.

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