Fabio Panetta: A digital euro to meet the expectations of Europeans

Introductory remarks by Mr Fabio Panetta, Member of the Executive Board of the European Central Bank, at the ECON Committee of the European Parliament, Frankfurt am Main, 14 April 2021.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Madam Chair, honourable members of the Committee on Economic and Monetary Affairs,

Let me start by thanking you for inviting me to report on the outcome of the ECB's public consultation on a digital euro. We are publishing our analysis of the responses we received on our website today.

A digital euro can only be successful if it meets the needs and expectations of European citizens. This is why our consultation will provide valuable input for the Eurosystem's decision – this summer – on whether we should start a digital euro project. The consultation will also inform future work on the design of a digital euro, if a project is launched.

For the participants in the public consultation, the most important features of a digital euro are privacy, security and broad usability. In my remarks today, I will discuss how we can meet their expectations. But first let me share with you the main findings from our consultation.