Christine Lagarde Solicits Public Opinion on Eurozone CBDC
Through a tweet, Christine Lagarde, ex-Managing Director of the IMF and current President of the European Central Bank, sought public opinion on a likely central bank digital currency (CBDC) for the Eurozone.
Through a video, Lagarde said “We are still in the review and considerations stage, but we’ve just launched a public consultation so that consumers and Europeans can actually express their preference and tell us whether they would be happy to use a digital Euro just in the way they use a Euro coin or a Euro banknote knowing that it is central bank money that is available and that they can rely upon.”
The statement regarding CBDC was conveyed while discussing about what Lagarde perceives as a “difficult year.”
It’s already been one year since I took up my role as President of the @ecb. It has been a difficult year for Europe and the world, but together we have achieved some important milestones that I believe are worth reflecting on. pic.twitter.com/b5mVA7t0xN
— Christine Lagarde (@Lagarde) November 1, 2020
The list of the subjects debated include the effect of Covid-19 and the response of the ECB, the significance of studying the manner in which bank policy could fight climate chance and how cryptos could complement modern-day lifestyle of Europeans. Lagarde wrote:
“As Europeans are increasingly turning to digital in the ways they spend, save and invest, we should be prepared to issue a digital euro, if needed.”
The ECB laid a roadmap for an elaborate CBDC study in 2021. Furthermore, central banks across the globe are exploring or cautiously taking steps towards the creation and launch of CBDCs.
The tweet also provided link to a survey, which the Lagarde requested Europeans to fill up with their thoughts about CBDC:
“I’m also keen to hear your views on it.”