European economists urge digital euro to serve public interest

A group of 70 European economists and policy experts has sent an open letter to members of the European Parliament, urging that the digital euro must align with the public interest, Cointelegraph reported. They argued that a digital euro would play a key role in safeguarding Europe's monetary sovereignty and ensuring public access to central bank money as cash usage declines. The letter emphasized the need for a public digital payment method issued by the Eurosystem, usable across Europe, with basic services provided free of charge. The experts also stressed that the digital currency should complement rather than replace physical cash. They warned that any hesitation by the European Union on the project could lead to market dominance by non-European card companies and Big Tech payment firms, which could undermine the autonomy of Europe's payment infrastructure and its ability to respond to crises.