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They want to limit the issue of digital euro at 1.5 trillion

If the digital euro is launched its issue will be limited to 1.5 trillion euros. This was announced by a member of the European Central Bank (ECB) board Fabio Panetta.

According to him, EU authorities fear that consumers can transfer all their money to digital format, effectively moving it to the Central Bank. This would deprive commercial banks of the funds they need to lend to individuals and businesses.

A limited issue of digital euros would help avoid negative consequences for the EU’s financial system and monetary policy.

There are now about 340 million people in the eurozone, which would allow for 3,000 to 4,000 digital euros per capita,” Panetta said in a statement.

He added that the European Commission’s 2021 citizen consultation showed little “enthusiasm for the digital euro. This is partly due to the “complexity” of the technology for the average user.

However, Panetta urged not to attach too much importance to these conclusions, as “the consultation was not based on a representative sample of citizens.”

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