Market Mover Chi paga il conto dell’euro digitale?
Sep 29, 2025
In this insightful discussion, financial journalist Laura Serafini dives into the complexities of implementing a digital euro. She unpacks the geopolitical stakes involved, addressing competition with the U.S. and Russia. Laura explains the technical foundation of the digital euro and the political hurdles it faces within the EU. A key issue arises: who will shoulder the infrastructure costs? Amid banks' concerns, Laura debates the financial implications for both states and banks, all while emphasizing the need for resilience in crises.
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Euro Digital Blends Crypto Speed With Central Control
- The euro digital aims to combine crypto-like speed with central bank control to retain trust and reduce investor risk.
- Laura Serafini explains the design balances distributed ledgers with central-bank oversight for payments.
DLT Underpins The ECB Prototype
- The ECB's prototype uses DLT, making the euro digital functionally similar to token-based crypto systems.
- Serafini frames this choice as a response to the growth of dollar-denominated stablecoins.
Who Will Pay For The Infrastructure?
- Implementing the euro digital raises major practical questions about infrastructure costs and who will pay them.
- Italian banks openly ask whether the state, the banks, or another party must fund the required investments.