The European Union and the European Central Bank are approaching an agreement on the digital euro
Brussels, September 18/ WAM/ The European Union countries and the European Central Bank announced that they would approach a decisive agreement on the digital euro project, after more than a year of disputes, as the bank made a major concession that gives European capitals more powers in the design of the new digital currency, especially with regard to determining the maximum amount that consumers can keep in their digital portfolios.
European Finance ministers discuss this week in Copenhagen, the new proposal that is likely to have an unofficial approval.
The European monetary authorities are seeking at the headquarters of the European Central Bank in Frankfurt to accelerate the adoption of the project for fear of the superiority of the special payment systems led by American companies, especially the stable digital currencies in dollars.
The new agreement suggests that the central bank begin consultations with governments two years before the launch of the digital currency, as it proposes the maximum a year before the issuance, provided that it is adopted with the approval of a qualified majority reinforced by the governments of the eurozone, which is the highest level of voting within the European Union, and this type of majority is required to make any subsequent adjustments to this ceiling after the launch, which enhances the role of governments in the process.
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