Preparing Europe for digital finance
A new phase of digital finance is taking shape, says Piero Cipollone. The ECB aims to achieve an integrated European market for digital assets, with safe central bank money as the backbone of the system
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ECB
CBDC and monetary sovereignty
Calls for a digital euro increasingly invoke monetary sovereignty. Lucrezia Reichlin argues that an effective defence of monetary sovereignty will continue to depend on regulation, fiscal capacity, and the ECB’s willingness to absorb risk when it matters
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What a digital euro will bring
As the world continues its digital transformation, the ECB is moving toward the launch of the digital euro – a central bank-issued currency that offers a universal, secure payment method for everyday use. Piero Cipollone discusses how a digital euro would support Europe’s strategic autonomy and monetary sovereignty
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Lessons from the history of international currencies
There are moments when foundations that seem unbreakable begin to shift, says Christine Lagarde. She believes the euro could become a viable alternative to the dollar, earning the EU immense benefits, if governments could strengthen the bloc’s financial and security architecture
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Nature’s bell tolls for thee, economy!
For central banks to fulfil their mandates they must take account of the natural environment. Frank Elderson discusses the looming economic crisis from nature loss and the risk sitting on company and investor balance sheets
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Harnessing the digital future of payments
A sovereign Europe needs a future-proof currency, says Piero Cipollone. This what the digital euro offers – it will support innovation, reduce reliance on foreign providers and ensure secure digital payments for all
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The digital euro: retaining control
The digital euro is not just about creating a new form of money, says Philip R Lane. It is about ensuring that Europe retains control over its monetary and financial destiny in the digital age against increasing geopolitical fragmentation
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A robust strategy for a new era
The level of uncertainty is exceptionally high. Christine Lagarde says maintaining stability in a new era will be hard, and will require an ability to react as necessary
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Understanding the economic losses from climate change
Recent research suggests that the impact of climate change on economic output might have been underestimated. Senne Aerts, Livio Stracca and Agnieszka Trzcinska highlight advances in understanding and measuring the economic impact of climate change and the remaining uncertainties
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Innovation, integration and independence
Innovative, integrated and independent retail payments are crucial components of our monetary system. As payments transition into the digital era, Piero Cipollone discusses taking the Single Euro Payments Area to the next level
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