Matolcsy: We need different types of digital euro

The digital euro is a huge challenge and also a great opportunity for the EU to win the future back for Europe.

Yes, we need diverse business models, multiple payment systems, digital currencies running on multiple infrastructures, and we definitely need different types of the digital euro /Agata Ferrerira, Robert Kopitsch and Philipp Sander, Cointelegraph, 5 July 2021/.

In my view, however, the main aim of the digital euro is not to become a global digital leader or to avoid dependence on American or Asian technological infrastructures.

The Eurozone should win back the chance to become a globally competitive player by solving the North/South divide. A “one-fits-all” euro with the same monetary policies for all members has been widening the gap between the Northern and Southern members of the Eurozone from the outset of the common currency.

At least two - or many - flexible and “tailor-made” digital euros offer the historical opportunities to capitalize on the diversities of all members of the currency zone.

Governor Matolcsy, MNB, the Central Bank of Hungary

Re “The digital euro: Something Europe can’t afford to get wrong”