The ECB is looking 'very seriously' at the creation of a digital euro
Tuesday, 10 13 2020, Category: Economy, Country: Europe
The European Central Bank moved a step closer to exploring the creation of a virtual currency, after president Christine Lagarde said on Monday it was "very seriously considering" a digital euro.
At a virtual meeting hosted by the International Monetary Fund, Lagarde said: "The ECB is very seriously looking at a digital Europe."
She said the COVID-19 pandemic has led to many structural changes including the way "we work, we trade, and we pay."
Digital payments have increased significantly as a result, particularly in countries such as Germany and Italy where "cash was king," Lagarde said.