Overview
- EU governments approved a negotiating position that requires both online and offline use for a publicly issued retail digital euro, opening talks with the European Parliament.
- The Council’s mandate includes financial‑stability guardrails such as ECB‑set holding limits, free basic services for users, and capped interchange and merchant fees for at least five years.
- ECB President Christine Lagarde said the central bank has completed technical and preparatory work and called on EU institutions to enact the legal framework.
- Council text strengthened privacy protections by stating central banks shall not be able to lift data‑segregation measures during processing.
- ECB planning points to DLT‑based settlements in central bank money in 2026, with pilot transactions possible in 2027 and potential operational launch in 2029, while banks warn of multibillion‑euro distribution costs and seek fair remuneration.