Digital Euro Isn't Pressing, but Work Should Continue: Spanish Central Bank Governor
Spain's central bank governor, Pablo Hernández de Cos, has expressed some reservations about the European Central Bank's (ECB) proposal to introduce a digital euro. He noted that while the ECB's project is important, the payment systems in the European Union and Spain are already highly efficient, and there is no pressing need to introduce a digital euro. This does not mean, however, that work on a digital euro should be halted. Despite questions and criticism about the digital euro project, Hernández de Cos believes it is important for everyone, including the financial industry, to be ready to ensure that a key service like the payment system is not threatened. In September, ECB Chief Christine Lagarde disclosed that a digital euro is at least two years away.
