Digital Euro: Italy Advocates for Gradual Implementation Amid Banking Sector Concerns
Italy has cautiously endorsed the European Central Bank's digital euro initiative, framing its support with a call for phased financial commitments. The Italian Banking Association (ABI) recognizes the project's strategic value for digital sovereignty but emphasizes the unsustainable burden of upfront costs for lenders already grappling with cybersecurity upgrades and regulatory compliance.
"The investment demands are disproportionate to banks' existing capital expenditure cycles," stated ABI General Manager Marco Elio Rottigni during a Florence seminar. This measured stance diverges from more confrontational positions taken by French and German institutions, potentially setting the stage for intra-EU negotiations on implementation timelines.
