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The digital euro: A precautionary device, not a deus-ex-machina

  • There is much discussion today about a possible digital euro (PDE). Is this attention exaggerated? Are “central bank digital currencies” (CBDCs) “a solution in search of a problem”, as some have argued? This article summarizes the main facts about the PDE and concludes that, if the decision on adoption had to be taken today, the arguments against would outweigh those in favor. However, there may be future circumstances in which having a CBDC ready for use can indeed be useful. Therefore, preparing is a good thing, even if the odds of its usefulness in normal conditions are slim.

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Metadaten
Author:Ignazio AngeloniORCiDGND
URN:urn:nbn:de:hebis:30:3-640643
URL:https://safe-frankfurt.de/policy-center/policy-publications/policy-publ-detailsview/publicationname/the-digital-euro-a-precautionary-device-not-a-deus-ex-machina.html
Series (Serial Number):SAFE policy letter (99)
Publisher:SAFE
Place of publication:Frankfurt am Main
Document Type:Working Paper
Language:English
Year of Completion:2023
Year of first Publication:2023
Publishing Institution:Universitätsbibliothek Johann Christian Senckenberg
Release Date:2023/05/25
Tag:Banks; CBDC; Central Bank; Digital; Euro; Financial Stability; Monetary Policy
Edition:May 2023
Page Number:8
Institutes:Wirtschaftswissenschaften / Wirtschaftswissenschaften
Wissenschaftliche Zentren und koordinierte Programme / House of Finance (HoF)
Wissenschaftliche Zentren und koordinierte Programme / Center for Financial Studies (CFS)
Wissenschaftliche Zentren und koordinierte Programme / Sustainable Architecture for Finance in Europe (SAFE)
Dewey Decimal Classification:3 Sozialwissenschaften / 33 Wirtschaft / 330 Wirtschaft
Sammlungen:Universitätspublikationen
Licence (German):License LogoDeutsches Urheberrecht