Digital Euro Is Key for Crisis Resilience, Italy’s Scotti Says

Europe needs a digital euro to ensure transactions can still flow during an emergency that could hobble conventional payment systems, Bank of Italy Deputy Governor Chiara Scotti.

Speaking on Bloomberg’s Italian-language podcast, Quello Che i Soldi Non Dicono, the former Dallas Federal Reserve official said that continuity of service is a practical benefit to the European Central Bank project that complements its priorities of protecting monetary sovereignty and economic security.

“There’s the issue of resilience,” Scotti said. “The digital euro will be able to function even without the internet. Think, for example, of a blackout or an emergency. ...