Digital Euro Could Be Curtailed Under EU Lawmaker’s Proposal (1)

A fully-fledged digital euro should only be launched if the private sector doesn’t come up with its own solution to integrate the region’s fractured payments landscape, according to the lead European Union lawmaker on the file.

Fernando Navarrete proposed to let an online version of the digital money be “conditional on the absence of a pan-European sovereign retail payment solution,” according to a statement accompanying the long-awaited report that will form the basis for further discussions in the European Parliament.

Such an approach would mark a significant shift from the European Central Bank’s plans, which have continuously advocated the ...