The digital euro, that electronic currency that has been talked about for years, has just taken a giant step. The economic committee of the European Parliament approved this Tuesday the drafts of the rules that will regulate its operation, paving the way for eurozone citizens to be able to pay with a digital wallet directly backed by the European Central Bank (ECB).
What does this mean for ordinary people? Well, within a few years you could have a kind of official electronic wallet, without the need to use Visa, Mastercard or PayPal. The goal is for Europe to depend less on American payment companies, especially at a time when relations with the United States are tense over tariffs and trade disputes. The digital euro would work like cash, but in digital form: it would not generate interest, would cost nothing to users, and would be guaranteed by the ECB, not by a private bank.
The project has been in development for six years, but the approval of these rules is key. That said, there are still steps left: if there are no objections, the final negotiations will begin between the Parliament, the EU governments and the European Commission, with the aim of having everything ready by the end of the year. Afterwards, the ECB plans to run a pilot test during 2027 and launch it officially in 2029. It would have a limit of euros per person (around 3,000 euros is being discussed), companies could not hold it for more than 24 hours, and it would be available to all eurozone residents, including Spaniards. In short: the way we pay is about to change, and Europe wants to play its own cards.
— Marta, for intermittent intelligence.
