European Parliament votes to advance digital euro negotiations, targeting 2029 launch
The European Parliament has voted 416-169 in favor of renewed negotiations to create a digital euro, aiming to reduce Europe's reliance on US-based payment systems like Visa and Mastercard. Lawmakers will meet with member states in July to discuss the concept, targeting a deal by the end of 2026. If approved, the European Central Bank could make the digital euro available by 2029. The ECB notes that nearly two-thirds of eurozone card payments are currently handled by non-European companies.
Key quotes
416 delegates voted in favor, 169 against, and 22 abstained for renewed negotiations on a digital euro.
The ECB says almost two-thirds of eurozone card payments are handled by non-European companies, mainly Visa and Mastercard.
If agreement is reached, the European Central Bank could make the digital euro available in 2029.
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