The Focus Session on the digital euro aim to outline the pilot’s objectives, timeline, and payment service providers (PSPs) selection process. In November 2025, the ECB announced its plan to launch a call for expressions of interest in 2026, inviting European payment service providers to join a digital euro pilot expected in the second half of 2027.
The event is for all stakeholders, including PSPs, technical service providers, merchants and consumers who would like to learn more about the digital euro pilot.
The digital euro project’s Evelien Witlox answers three questions about the digital euro:
👉 What would it mean for people?
👉 How would the digital euro improve payments?
👉 What’s coming next for the project?
🎥 Watch the interview to learn more!
The euro family is growing. Bulgaria is gearing up to adopt the euro. But what hopes and fears come with the transition? And were there similar feelings in other countries?
To explore these questions, our podcast team spoke with content creators Mihaela, Elena and Stefan (also known as Chefo) to hear their perspectives on the transition.
Meanwhile, in the podcast studio, our host Stefania Secola explored the topic with ECB researcher Ferdinand Dreher, who shed light on why public sentiment towards the euro tends to improve once people start using it in their everyday lives.
The views expressed are those of the speakers and not necessarily those of the European Central Bank.
Recorded on 11 and 16 December. Published on 22 December 2025.
In this episode:
00:53 Looking back at Germany’s adoption of the euro
Ferdinand shares his personal memories of Germany’s transition to the euro.
04:46 What are the biggest concerns around Bulgaria’s euro adoption?
Concerns arise with every major change. We asked three Bulgarian content creators – Mihaela, Elena and Stefan (also known as Chefo) – about their biggest concerns regarding euro adoption.
08:00 What does the research show?
What do surveys reveal about people’s concerns? What are the biggest concerns, and what are the initial inconveniences of the transition?
13:07 What are the biggest hopes around Bulgaria’s euro adoption?
Alongside fears, there are also hopes. Mihaela, Elena and Stefan share their perspectives on the positive aspects of euro adoption.
15:55 How do people’s feelings evolve after adoption?
Surveys show a significant shift in sentiment from the last survey before adoption to the first survey after adoption. What drives this change? Does clear communication play a key role?
20:13 What about Eurosceptics?
Does Euroscepticism persist after adoption?
21:30 What about concerns around national identity?
Do people feel that their national identity is under threat? Euro coins have a European side and a national side – does this help? Can European and national identities coexist?
23:53 Concerns are normal, but benefits will come
What is the message for countries who may adopt the euro in the future?
25:26 Our guest’s hot tip
Ferdinand shares his hot tip with listeners.
Blog post by Ferdinand Dreher and Nils Hernborg “Love at second sight: support for the euro before and after adoption”
https://www.ecb.europa.eu/press/blog/date/2025/html/ecb.blog20251104~cf577c8f68.en.html
Design of the euro coins – Bulgaria
https://www.ecb.europa.eu/euro/coins/html/bg.en.html
Bulgaria on the doorstep of the euro area
https://www.ecb.europa.eu/euro/changeover/bulgaria/html/index.en.html
Today our Governing Council decided on monetary policy.
Listen to President Christine Lagarde present today’s decisions. The statement also covers:
• how the economy is performing
• how we expect prices to develop
• the risks to the economic outlook
• the dynamics behind financial and monetary conditions
Published and recorded during our press conference on 18 December 2025.
Our monetary policy statement at a glance, 18 December 2025
https://www.ecb.europa.eu/press/press_conference/visual-mps/2025/html/mopo_statement_explained_december.en.html
Christine Lagarde, Luis de Guindos: Monetary policy statement, 18 December 2025
https://www.ecb.europa.eu/press/press_conference/monetary-policy-statement/2025/html/ecb.is251218~3a10402adb.en.html
Monetary policy decisions, 18 December 2025
https://www.ecb.europa.eu/press/pr/date/2025/html/ecb.mp251218~58b0e415a6.en.html
Combined monetary policy decisions and statement, 18 December 2025
https://www.ecb.europa.eu/press/press_conference/monetary-policy-statement/shared/pdf/ecb.ds251218~f264376788.en.pdf
Macroeconomic projections, 18 December 2025
https://www.ecb.europa.eu/press/projections/html/index.en.html
European Central Bank
https://www.ecb.europa.eu/home/html/index.en.html
