Digital Euro

Summary:

On 28 June 2023, the European Commission presented a legislative package to establish a digital form of central bank money to complement its physical form (banknotes and coins) and laid out the rules and conditions for its use. The IA supporting the proposals is based on extensive internal and external expertise, including tailored ECB advice and JRC input on analytical methods and simulations. It presents a wide range of options to address the problems identified, but it is difficult to identify the pros and cons of these options. The IA follows the Better Regulation criteria and presents the assessment of impacts in terms of effectiveness, efficiency and coherence, but the dense and long technical analysis is of limited accessibility for non-expert readers. As such, the IA should have been more comprehensive and clear regarding the suitability of the digital euro and the feasibility of the options.

This briefing is an Initial Appraisal of a European Commission Impact Assessment.

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