Bitcoin Magazine
ECB Prepping the Ground for Digital Euro Launch
The European Central Bank (ECB) is laying the groundwork for the probable launch of its wholesale and retail central bank digital currency (CBDC), the Digital Euro. Christine Lagarde, President of the ECB, shared this update at their latest press conference. âPresident Lagarde stressed that the digital euro is âmore relevant than ever,'â the ECB tweeted.
Lagarde emphasized that the Digital Euro, the EUâs CBDC solution, is set to launch in October 2025âprovided it passes the legislative phase involving key stakeholders, including the European Commission, Parliament, and Council. Notably absent from this process is the European public, despite the significant impact this initiative will have on their daily lives.
Could it be linked to Ursula von der Leyenâs recent âReArm Europeâ announcement, which proposes the creation of an EU army? This initiative requires an estimated âŹ800 billion in fundingâmoney the EU does not have. The options? Extracting it from EU member states and their citizens or printing fresh funds via the ECB. Either way, itâs time to warm up the ECBâs money printers!
Furthermore, The EU has introduced the âSavings and Investments Unionâ, aiming to redirect âŹ10 trillion in âunused savingsâ from citizens to finance military growth and bolster Europeâs defense industry. âWeâll turn private savings into much-needed investment,â tweeted von der Leyen. If this hasnât shocked you already, Iâll try to clarify: This is a clear violation of private property rights, and an implicit confiscation of Europeansâ wealth, while bluntly using their funds as the EU sees fit, including funding of a military industrial complex, without even asking them.
If the EU is accelerating toward totalitarian collectivism, as this statement suggests, then a CBDC would be a powerful toolâenabling tighter control over Europeansâ money with features like an âon/offâ switch and programming abilities.
Christine Lagarde recently campaigned at the European Parliament, arguing that the Digital Euro is necessary to reduce the EUâs dependence on foreign payment solutions. European banks must innovate payment methods, but the EUâs primary concern isnât just reliance on tech giants like Google Pay or Apple Payâitâs the potential for widespread adoption of decentralized global protocols like Bitcoin.
The ECB is observing geopolitical trends, noting that the U.S. is embracing crypto, Bitcoin, and stablecoinsâtechnologies that pose a risk to centralized control. Unsurprisingly, they are choosing a different path. According to Reuters, âEurozone banks need a digital euro to respond to U.S. President Donald Trumpâs push to promote stablecoinsâ as part of a broader crypto strategy. ECB board member Piero Cipollone reinforced this stance, stating, âThis solution further disintermediates banks as they lose fees, they lose clients⊠Thatâs why we need a digital euro.â
Bottom line, Lagardeâs and Von der Leyenâs recent agendas are aimed to drive more centralised control while strengthening the EU hierarchy, governance and incentive structure â that has always been their role.
The ECB recently published findings from a survey on consumer attitudes toward retail CBDC, conducted among 19,000 Europeans across 11 Eurozone countries. Key takeaways include:
1) Lack of Interest â Most Europeans are not interested in the Digital Euro, as existing payment methods already serve their needs well.
Why would you not adopt the digital euro? source: European Central Bank
2) Europeans are Open to Propaganda â While public interest is low, the survey found that Europeans are receptive to video-based education and training. The ECBâs study suggests that CBDC-related videos could drive widespread adoption by reshaping consumer beliefs. The report states: âConsumers who are shown a short video providing concise and clear communication about the key features of the digital euro are substantially more likely to update their beliefs⊠which increases their immediate likelihood of adopting it.â No wonder the ECB has ramped up its digital euro video content since late 2024. For example:
3) Preference for Existing Payment Methods â âEuropeans have a strong preference for existing payment methods and see no real benefit in a new type of payment systemâ. While this finding sounds like a positive pushback, it can serve as a precursor to a tactic of technological integrations. âIf you canât beat them, join themâ tactic â similarly to the Chinese e-CNY retail CBDC.
A recent Euromoney article highlighted e-CNYâs integration with Chinaâs most popular apps (DiDi, Meituan, Ctrip, WeChat Pay, and Alipay), a move that facilitated its widespread adoption. Despite early struggles, e-CNY now boasts 180 million personal wallet users and a cumulative transaction value of $1 trillion. I recently explored this topic in depth with Roger Huang recently on my podcast.
On the wholesale CBDC front, the EU is experimenting with distributed ledger technology (DLT) to interconnect financial institutions across Europe and beyond. This follows exploratory work conducted by the Eurosystem between May and November 2024. Their trials involved 64 participantsâincluding central banks, financial market players, and DLT platform operatorsâconducting over 50 experiments.
âDigital Cashâ
Lagarde insists that the Digital Euro is a form of cash, gaslighting and misleading uninformed Europeans about the risks of CBDCs. Permission-based CBDCs such as the Digital Euro are prone to micro levels of control through expiry dates, geofencing and programmability. If Europeans donât recognize these dangers, they wonât resist the Digital Euro. By framing it as âdigital cash,â the ECB ensures smoother public acceptance with little to no public fuss.
To be clear, cash itself is fiat currencyâcentrally controlled, easily debased, and prone to inflation. Every time the issuer expands the money supply, citizens suffer from declining purchasing power, essentially being robbed by the state.
While ordinary citizens are bound by the rule of law, elites often evade consequences. A prime example is Christine Lagarde, who was found guilty of negligence for approving a massive taxpayer-funded payout to controversial French businessman Bernard Tapie. However, she avoided a jail sentence. The Guardian reported in 2016: âA French court convicted the head of the International Monetary Fund and former government minister, who had faced a âŹ15,000 fine and up to a year in prison. But it decided she should not be punished, and that the conviction would not constitute a criminal record. ⊠The IMF gave her its full support.â
Despite public disinterest, the ECB (and other central banks) will push forward with their CBDCs. To maintain the illusion of public involvement, they will conduct surveys and create engagement tools. But ultimately, the Digital Euro will be integrated into existing payment methods and consumer appsâjust as China did with e-CNY. This strategy will drive adoption even without direct public enthusiasm.
We are, after all, playing the game of âdemocracy,â right?
Geopolitical analyst Alex Krainer recently tweeted in response to Lagarde and von der Leyenâs acceleration of CBDC efforts: âThis is excellent news; Christine Lagarde and Ursula von der Leyen never took on something they didnât completely mess up. I hope theyâll continue with their excellent performance. Godspeed.â
Stay tuned as I continue to track central banksâ moves toward CBDC implementation.
This is a guest post by Efrat Fenigson. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
This post ECB Prepping the Ground for Digital Euro Launch first appeared on Bitcoin Magazine and is written by Efrat Fenigson.
Full story here:
ECB Prepping the Ground for Digital Euro Launch
The European Central Bank (ECB) is laying the groundwork for the probable launch of its wholesale and retail central bank digital currency (CBDC), the Digital Euro. Christine Lagarde, President of the ECB, shared this update at their latest press conference. âPresident Lagarde stressed that the digital euro is âmore relevant than ever,'â the ECB tweeted.
Lagarde emphasized that the Digital Euro, the EUâs CBDC solution, is set to launch in October 2025âprovided it passes the legislative phase involving key stakeholders, including the European Commission, Parliament, and Council. Notably absent from this process is the European public, despite the significant impact this initiative will have on their daily lives.
CBDC in EU will launch in Oct. 2025.
Wholesale & retail.
Israel is following EUâs footsteps â preparing for CBDC with a new 110 page design document. pic.twitter.com/fUr1CkBRmy
â Efrat Fenigson (@efenigson) March 8, 2025
Why Is the Digital Euro More Relevant Than Ever?
Could it be linked to Ursula von der Leyenâs recent âReArm Europeâ announcement, which proposes the creation of an EU army? This initiative requires an estimated âŹ800 billion in fundingâmoney the EU does not have. The options? Extracting it from EU member states and their citizens or printing fresh funds via the ECB. Either way, itâs time to warm up the ECBâs money printers!
Furthermore, The EU has introduced the âSavings and Investments Unionâ, aiming to redirect âŹ10 trillion in âunused savingsâ from citizens to finance military growth and bolster Europeâs defense industry. âWeâll turn private savings into much-needed investment,â tweeted von der Leyen. If this hasnât shocked you already, Iâll try to clarify: This is a clear violation of private property rights, and an implicit confiscation of Europeansâ wealth, while bluntly using their funds as the EU sees fit, including funding of a military industrial complex, without even asking them.
If the EU is accelerating toward totalitarian collectivism, as this statement suggests, then a CBDC would be a powerful toolâenabling tighter control over Europeansâ money with features like an âon/offâ switch and programming abilities.
Christine Lagarde recently campaigned at the European Parliament, arguing that the Digital Euro is necessary to reduce the EUâs dependence on foreign payment solutions. European banks must innovate payment methods, but the EUâs primary concern isnât just reliance on tech giants like Google Pay or Apple Payâitâs the potential for widespread adoption of decentralized global protocols like Bitcoin.
The ECB is observing geopolitical trends, noting that the U.S. is embracing crypto, Bitcoin, and stablecoinsâtechnologies that pose a risk to centralized control. Unsurprisingly, they are choosing a different path. According to Reuters, âEurozone banks need a digital euro to respond to U.S. President Donald Trumpâs push to promote stablecoinsâ as part of a broader crypto strategy. ECB board member Piero Cipollone reinforced this stance, stating, âThis solution further disintermediates banks as they lose fees, they lose clients⊠Thatâs why we need a digital euro.â
Bottom line, Lagardeâs and Von der Leyenâs recent agendas are aimed to drive more centralised control while strengthening the EU hierarchy, governance and incentive structure â that has always been their role.
New Digital Euro CBDC Survey
The ECB recently published findings from a survey on consumer attitudes toward retail CBDC, conducted among 19,000 Europeans across 11 Eurozone countries. Key takeaways include:
1) Lack of Interest â Most Europeans are not interested in the Digital Euro, as existing payment methods already serve their needs well.
Why would you not adopt the digital euro? source: European Central Bank
2) Europeans are Open to Propaganda â While public interest is low, the survey found that Europeans are receptive to video-based education and training. The ECBâs study suggests that CBDC-related videos could drive widespread adoption by reshaping consumer beliefs. The report states: âConsumers who are shown a short video providing concise and clear communication about the key features of the digital euro are substantially more likely to update their beliefs⊠which increases their immediate likelihood of adopting it.â No wonder the ECB has ramped up its digital euro video content since late 2024. For example:
3) Preference for Existing Payment Methods â âEuropeans have a strong preference for existing payment methods and see no real benefit in a new type of payment systemâ. While this finding sounds like a positive pushback, it can serve as a precursor to a tactic of technological integrations. âIf you canât beat them, join themâ tactic â similarly to the Chinese e-CNY retail CBDC.
A recent Euromoney article highlighted e-CNYâs integration with Chinaâs most popular apps (DiDi, Meituan, Ctrip, WeChat Pay, and Alipay), a move that facilitated its widespread adoption. Despite early struggles, e-CNY now boasts 180 million personal wallet users and a cumulative transaction value of $1 trillion. I recently explored this topic in depth with Roger Huang recently on my podcast.
Not Just RetailâWholesale Too
On the wholesale CBDC front, the EU is experimenting with distributed ledger technology (DLT) to interconnect financial institutions across Europe and beyond. This follows exploratory work conducted by the Eurosystem between May and November 2024. Their trials involved 64 participantsâincluding central banks, financial market players, and DLT platform operatorsâconducting over 50 experiments.
âDigital Cashâ
Lagarde insists that the Digital Euro is a form of cash, gaslighting and misleading uninformed Europeans about the risks of CBDCs. Permission-based CBDCs such as the Digital Euro are prone to micro levels of control through expiry dates, geofencing and programmability. If Europeans donât recognize these dangers, they wonât resist the Digital Euro. By framing it as âdigital cash,â the ECB ensures smoother public acceptance with little to no public fuss.
To be clear, cash itself is fiat currencyâcentrally controlled, easily debased, and prone to inflation. Every time the issuer expands the money supply, citizens suffer from declining purchasing power, essentially being robbed by the state.
âRules for Thee, But Not for Meâ
While ordinary citizens are bound by the rule of law, elites often evade consequences. A prime example is Christine Lagarde, who was found guilty of negligence for approving a massive taxpayer-funded payout to controversial French businessman Bernard Tapie. However, she avoided a jail sentence. The Guardian reported in 2016: âA French court convicted the head of the International Monetary Fund and former government minister, who had faced a âŹ15,000 fine and up to a year in prison. But it decided she should not be punished, and that the conviction would not constitute a criminal record. ⊠The IMF gave her its full support.â
My Prediction for the EUâs CBDC
Despite public disinterest, the ECB (and other central banks) will push forward with their CBDCs. To maintain the illusion of public involvement, they will conduct surveys and create engagement tools. But ultimately, the Digital Euro will be integrated into existing payment methods and consumer appsâjust as China did with e-CNY. This strategy will drive adoption even without direct public enthusiasm.
We are, after all, playing the game of âdemocracy,â right?
Geopolitical analyst Alex Krainer recently tweeted in response to Lagarde and von der Leyenâs acceleration of CBDC efforts: âThis is excellent news; Christine Lagarde and Ursula von der Leyen never took on something they didnât completely mess up. I hope theyâll continue with their excellent performance. Godspeed.â
Stay tuned as I continue to track central banksâ moves toward CBDC implementation.
This is a guest post by Efrat Fenigson. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
This post ECB Prepping the Ground for Digital Euro Launch first appeared on Bitcoin Magazine and is written by Efrat Fenigson.
Full story here:
![[DK]](/data/avatars/s/57/57999.jpg?1720990206){kind=avatar}
