Christine Lagarde of the ECB states that the bank will be ready in January for a decision on a European CBDC 

Quick take

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• Christine Lagarde has recently said that the financial institution should come to a decision in 2021 on whether or not they will release a digital euro.

• In a virtual policy panel that was held last week on the 12th of November, the president stated that the central bank was not in any rush to be the 1st to release a central-bank digital currency. 

Christine Lagarde, the President of the European Central bank has recently said that the financial institution should come to a decision in 2021 on whether or not they will release a digital euro.

In a virtual policy panel that was held last week on the 12th of November, the president stated that the central bank was not in any rush to be the 1st to release a central-bank digital currency. That being said, she went on to say that the results of the consultation that the bank managed in October earlier this year in regards to a digital euro would be ready in January next year.

She further said:

“At that point in time we will make the decision as to whether or not we go forward with the digital euro. My hunch — but this is a decision that will be taken collectively — is that we might well go in that direction.”

On top of this, the president went on to say that the bank still has some things to address when it comes to concerns regarding central-bank digital currencies. Specifically, she noted that the European Central bank would look into anti-money laundering and anti-terrorism measures in addition to privacy for the user.

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