Christine Lagarde: jump start digital Euro will break the link of the ECB with other banks

The European Central Bank is working on a digital currency, but its launch may be delayed due to systemic risks stablon. This was stated by Christine Lagarde in her first speech as the head of the ECB.

In her opinion, digital Euro will change the way of conducting monetary policy and will influence the stability of the global financial system.

Stablon can stop the feedback of the Central Bank with banks in the form of incoming reports, depriving the Finance Ministry of the opportunity of forecasting and planning.

«The issue of digital currency of the Central Bank and its optimal design requires further analysis,» — said Christine Lagarde.

The ECB President suggested to conduct comprehensive tests of the banking system, introducing the blockchain in interbank transfers.

«In the future, this will help ensure compatibility of digital euros with similar products of other banks», — she believes.

While Lagarde stressed that the ECB is already cooperating with the Central banks and international bodies in this direction, and also reviewing surveillance system stablename with the new assets.

Earlier the Finnish representation to the EU appealed to the ECB to consider the possibility of issuing its own digital currency.


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