EU lawmakers back starting negotiations on digital euro creation

Daily SabahParty-alignedCenter23 hr. ago

European Union lawmakers have supported beginning negotiations on the creation of a digital euro, marking a significant step toward developing a new form of digital currency. The initiative aims to reduce reliance on U.S.-based payment systems such as Visa, Mastercard, Apple Pay, and Google Pay. While initial approval from a parliamentary committee faced challenges, an overwhelming majority of lawmakers ultimately endorsed moving forward. This decision allows negotiators from both the European Parliament and EU member states to begin discussions by the end of 2026, with the goal of having the digital euro available to citizens by 2029. A pilot program is planned for mid-2027 to test the system’s functionality. EU lawmaker Fernando Navarrete Rojas emphasized that the digital euro is intended as an alternative rather than a mandatory replacement, and he dismissed concerns about potential misuse, asserting that high privacy standards will be maintained.

Bias read (Center): The article presents a factual update on the progress of the digital euro initiative without overtly favoring any particular political ideology. It reports on the approval process, the goals of the project, and the assurances provided by officials, maintaining a balanced tone. While the topic is a '