Seventy Economists Urge Eu To ‘let The Public Interest Prevail’ On... (2026)
Economists urge EU lawmakers to back a public digital euro, warning that private stablecoins and foreign payment companies threaten Europe’s monetary sovereignty.
Seventy economists and policy experts called on members of the European Parliament (MEPs) to back a digital euro that serves the public interest, arguing that it is crucial for Europe’s monetary sovereignty and for guaranteeing access to central bank money in an increasingly cash‑light economy.
The open letter, published on Sunday and titled, “The Digital Euro: Let the public interest prevail!,” warned that without a strong public option, private stablecoins and foreign payment giants may gain even greater influence over Europe’s digital payments.
The signatories, including former European Bank for Reconstruction and Development vice president José Leandro and French economist Thomas Piketty, describe the proposed central bank digital currency (CBDC) as a public good.
They argue for a public, euro area‑wide digital means of payment, issued by the Eurosystem and free of charge for basic services, that complements rather than replaces cash.
They caution that if the EU hesitates or waters down the project, European citizens and merchants risk becoming more dependent on private, mostly non‑European card schemes and big technology payment platforms, which could weaken the resilience and autonomy of Europe’s payment system in times of stress.
Their intervention comes as the European Central Bank (ECB) is in the preparation phase of the digital euro project, working on a rulebook, technical architecture and offline functionality ahead of any final decision on issuance.
The ECB describes the digital euro’s design as a public, pan‑European payment solution that offers cash‑like access to central bank money, including offline payments, while preserving financial stability through tools such as holding limits and tiered remuneration.
Related: Stablecoin risks seen as minimal in Europe amid low adoption and MiCA: ECB
Analysts at BNP Paribas also highlighted that the digital euro’s benefits must be weighed against possible funding and profitability pressures for banks, depending on where holding limits and remuneration are set.
Source: CoinTelegraph
