Expert Opinion: Is the ECB Even Allowed to Introduce the Digital Euro?

Finanzwende, a lobby group critical of banks, sought to determine, with the help of an expert opinion, whether the ECB’s introduction of the digital euro would also constitute interference in the competitive market for private payment service providers and thereby exceed its sovereign powers as the issuer and guardian of the currency. Answer: In principle, the ECB is permitted to issue the e-euro—but it may not give it regulatory preferential treatment over other payment solutions. Because then she would be acting as an entrepreneur on the market in an unauthorized manner…