21 March 2025 | Euro

ECB's Philip Lane voices support for creating digital euro

ECB's Philip Lane voices support for creating digital euro

Philip Lane, chief economist at the European Central Bank (ECB), emphasized that the region needs to create its own digital currency now more than ever amid rising geopolitical tensions and rapid technological developments.

The ECB launched the digital euro project back in 2021, the preparation phase of which is expected to be concluded by October 2025, according to Bloomberg. However, this initiative requires the adoption of relevant legislation by the European Union. The process has stalled, the agency reported.

ECB head Christine Lagarde also supports the idea of creating the region's own digital currency, showing the same stance as Lane. The introduction of modern technologies will allow the European countries to keep up with the times, strengthen sovereignty, and reduce dependence on foreign currencies in the context of geopolitical uncertainty.

Anton Volkov MarketCheese
Period: 31.05.2026 Expectation: 4500 pips
Selling EURUSD from resistance
20 March 2026 35
Period: 27.03.2026 Expectation: 900 pips
USDCAD resistance looms as overheating sets in
20 March 2026 39
Period: 27.03.2026 Expectation: 1050 pips
AUDCAD thrives on monetary divergence
20 March 2026 27
Period: 31.03.2026 Expectation: 800 pips
Buying Brent crude with $115 in view
20 March 2026 45
Gold sell
Period: 31.03.2026 Expectation: 600 pips
Selling gold upon breaking $4,560
20 March 2026 43
Period: 30.04.2026 Expectation: 2000 pips
SPX selloff to follow once it consolidates below $6,600
20 March 2026 23
Go to forecasts