Christine Lagarde invitations public feedback on the eurozone's CBDC


In a Twitter thread on Sunday, Christine Lagarde, former managing director of the IMF and current president of the European Central Bank, invited public comments on a potential digital currency from the Central Bank of the Eurozone (CBDC).

"We are still in the review and reflection phase, but we have just launched a public consultation so that consumers and Europeans can actually express their preference and tell us whether they would like to use a digital euro the way they use a euro. Coin or euro banknote that knows that central bank money is available and that they can rely on, ”Lagarde said in a video from the thread.

The comments on a possible CBDC were part of a larger series of reflections on what Lagarde described as a "difficult year".

Topics discussed included the impact of the coronavirus and the reaction of the ECB, the importance of studying how banking policy can fight climate change and how cryptocurrencies could better suit modern Europeans' lifestyles.

"As Europeans increasingly turn to the digital in terms of spending, saving and investing, we should be ready to spend a digital euro if necessary," wrote Lagarde.

As Cointelegraph previously reported, the ECB has a roadmap for a more serious CBDC study in 2021. In addition, central banks around the world are taking exploratory, albeit cautious, steps to release CBDCs.

The tweet was also linked to a poll form in which the chief banker invited Europeans to share their thoughts.

"I'm looking forward to your views on this too."


Melinda Martin