Introductory statement by Piero Cipollone, Member of the Executive Board of the ECB, at the Committee on Economic and Monetary Affairs of the European Parliament

Brussels, 14 February 2024

Thank you for the opportunity to speak before the Committee today. As I emphasised during my confirmation hearing, I am committed to actively pursuing the dialogue with the European Parliament on a digital euro.

This year marks the 25th anniversary of the euro and our monetary union. It is up to us to ensure both remain fit for the digital age. The Single Currency Package^[1] will help us achieve just that: first, by ensuring cash remains widely accessible and accepted; and second, by complementing cash with a digital option for paying with central bank money.

A digital euro would be a European means of payment which could be used free of charge, for any digital payment, anywhere in the euro area. Together with cash, a digital euro would preserve European citizens’ freedom to use a public means of…