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ECB Advocates Digital Euro to Counter Decline in Physical Cash Usage
ECB Advocates Digital Euro to Counter Decline in Physical Cash Usage
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The European Central Bank is positioning a digital euro as the inevitable successor to physical currency. Executive Board Member Piero Cipollone’s address at the France Payments Forum highlighted how digital payment adoption and e-commerce growth are eroding cash’s traditional role. The ECB frames this transition as strategic necessity rather than optional evolution.
Europe’s payment infrastructure reveals alarming vulnerabilities. Nearly 70% of eurozone card transactions FLOW through non-European processors, with 13 member states lacking domestic alternatives for point-of-sale systems. This dependence on foreign payment rails underscores the urgency behind the digital euro initiative.
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