70 academics across Europe urge MEPs to resist financial lobbying pressure against the digital euro
Europe faces a decisive moment in the debate on the digital euro. As negotiations intensify, more than 70 European academics urge Members of the European Parliament to resist financial sector lobbying and protect the digital euro as a genuine public good.
70 European academics, among who leading economists and former central bankers warn that political compromise risks stripping the digital euro of its purpose. Without a meaningful public alternative, Europe will remain dependent on non-European payment providers and exposed to economic and geopolitical risks.
Europe’s dependence on foreign payment systems
Across the European Union, digital payments rely heavily on providers based outside Europe, primarily in the United States. In many countries, no domestic alternative exists. At the same time, cash use continues to decline, while private digital payment services expand rapidly.
This trend weakens Europe’s control over a core part of its economic infrastructure. Payment systems shape financial stability, data protection, and resilience during crises. The academics argue that a digital euro issued by the European Central Bank can address these risks by giving citizens access to public money in digital form.
Design choices under pressure
A credible digital euro must work online and offline, protect user privacy, and remain accessible to everyone, including people without a bank account. Meaningful holding limits would support trust without threatening financial stability.
With a European Parliament vote expected in 2026, the academics warn that a scaled-down digital euro would become a symbolic gesture rather than a solution. They call on policymakers to place the public interest and monetary sovereignty at the centre of the negotiations.
Find the full open letter below. The letter was initiated by Sustainable Finance Lab. The open letter was featured in an article in the Financial Times on 11 January 2026 (subscription needed).
