Source: Council of the European Union (video statements)
How will we pay in the future? And can the EU build a payment system of its own? Introducing the digital euro: a new digital form of cash issued and guaranteed by the European Central Bank (ECB) that lets you pay online, in shops or offline. The digital euro does not replace cash but offers European citizens a new form of payment, one which is both safe and private. Developed with the ECB in Frankfurt and set for a 2027 pilot ahead of a possible 2029 rollout, this video breaks down what the digital euro is, how the digital euro wallet works, and what it means for payment independence, privacy, and Europe’s digital payment sovereignty.
https://www.consilium.europa.eu/en/policies/digital-euro/
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Chapters:
00:00 Intro
00:39 What is the digital euro?
02:23 How will the digital euro work?
03:25 EU sovereignty
03:44 Digital euro & privacy
03:54 Is the digital euro a cryptocurrency?
04:16 How far along is the digital euro in its development?
04:52 Why does this matter to you?
05:15 Outro
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The European Council is the highest political body of the European Union, bringing together the heads of state or government of all EU member states, along with its President and the President of the European Commission. It sets the EU’s political agenda, addressing major challenges and defining strategic priorities, such as those outlined in the Strategic Agenda 2024–2029, which focuses on a free and democratic Europe, a strong and secure Europe, and a prosperous and competitive Europe. The European Council also plays a crucial role in crisis management, from responding to Russia’s war in Ukraine to tackling the COVID-19 pandemic. Decisions are typically made by consensus, and its meetings, often called ‘European summits’, take place at least four times a year in Brussels, Belgium.
The Council of the European Union (often referred to as the Council) is where the daily legislative and policy work of the EU happens. Comprising ministers from each EU member state, it negotiates and adopts laws, usually in partnership with the European Parliament, across 10 policy areas, from foreign affairs to energy. Meetings are held regularly in Brussels and Luxembourg. Unlike the European Council, the Council operates under a rotating six-month presidency, held by each member state in turn, ensuring that every EU country, regardless of size, has an equal voice in shaping European policies.
Find out more here: https://www.consilium.europa.eu/en/