The EU plans to launch its digital euro in October this year.
Christine Lagarde, president of the European Central Bank, said, “It is piloted on a fairly large scale in China, [where it] is of use and of service to all citizens” https://www.reuters.com/sustainability/boards-policy-regulation/ecbs-lagarde-urges-eu-lawmakers-speed-up-digital-euro-law-2025-06-23/.
She added, “So it is not something that is good for the elite, or is good for the young, or is good for some versus others” https://www.reuters.com/sustainability/boards-policy-regulation/ecbs-lagarde-urges-eu-lawmakers-speed-up-digital-euro-law-2025-06-23/.
“If it is well done, and if it is well implemented, it would be of service to all citizens” https://www.reuters.com/sustainability/boards-policy-regulation/ecbs-lagarde-urges-eu-lawmakers-speed-up-digital-euro-law-2025-06-23/.
The digital euro is not finalized yet, but it raises serious concerns.
China’s digital yuan is known for heavy government surveillance and control over citizens.
Claiming the digital euro will benefit everyone sounds like a sales pitch masking potential risks.
Central bank digital currencies risk becoming tools for tracking spending, killing privacy, and controlling people’s lives.
Europeans should think twice before giving governments more control over their money.