EU Council Backs Digital Euro, Balancing Innovation & Stability

The European Unions Council endorses the European Central Banks digital euro plan, emphasizing its role as a payment tool rather than a savings option. Strict limits on digital wallet holdings aim to prevent mass shifts from commercial bank deposits, safeguarding the financial system and monetary policy. However, critics argue these limits primarily protect banks from competition, potentially reducing their profits. The digital euros development continues, balancing innovation with system stability.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.