CroatiaThe European Parliament has approved the long-awaited digital euro project aimed at reducing American dominance in payment systems. The European Central Bank (ECB) reports that American card giants Visa and Mastercard handle 61% of card payments within the Eurozone and nearly all cross-border transactions. This decision comes amid growing geopolitical tensions and concerns over Europe's reliance on foreign payment infrastructure. The digital euro would be a form of central bank money issued and guaranteed by the ECB, serving as a complement to cash and existing banking services. Citizens could hold digital euros in a special digital wallet with transaction limits yet to be determined. The system would support online and offline payments while offering high privacy protections. The ECB would manage the infrastructure, while commercial banks and payment service providers would offer digital euro services to citizens. Financial institutions would be compensated for participating, while merchants would pay lower fees than current card payments. The determination of these fees remains a contentious issue during negotiations with EU member states. The ECB welcomed the agreement by the EP
Bias read (Center): The article presents the approval of the digital euro initiative as a neutral development, focusing on the technical aspects, potential benefits, and challenges associated with the project. It does not exhibit overtly biased language, one-sided sourcing, or editorializing that would indicate a clear
