ECB President Sees Digital Euro Only as Complement Spiske
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European Central Bank President Christine Lagarde believes that the digital euro can only be a supplement, but not a replacement for cash.

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During the Franco-German Parliamentary Assembly, the regulator's head also noted that the digital euro may become an alternative to private digital currencies and ensure that sovereign money remains at the heart of European payment systems.

"We are also exploring the benefits, risks and operational challenges of introducing a digital euro," Lagarde.

Lagarde pointed out the need for the European countries to fully reap the potential gains from digital technologies and, at the same time, make sure labor markets remain inclusive.

"If we do not, we risk creating a new divide, and we can already see gaps opening up when we look at differences in wages, education levels and gender," she added.

iHodl reported previously that Lagarde hinted that the central bank will decide on whether the European regions should develop their own central bank digital currency or not within the next few weeks.

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According to Lagarde, the ECB's findings are expected to be revealed to the public "in the coming weeks, followed by the launch of a public consultation."

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