Update
ECB Official Discusses Digital Euro for EU Sovereignty
ECB Executive Board member Piero Cipollone discussed the digital euro, a potential European Central Bank initiative to create a digital currency for the European Union. Cipollone highlighted the digital euro's potential to provide the EU with 'sovereignty' over a payments infrastructure that currently relies on external, non-European third parties. The digital euro is expected to be tested in real transactions by ECB and national central bank staff in 2027, pending legislative approval in Brussels by the end of the year.