Financial Services News

Challenges and Changes Ahead for Europe's Digital Euro Initiative

Stefan Berger, a German MEP and critic of the digital euro project, has resigned from leading the European Parliament's work on the initiative to avoid suspicions of deliberately delaying the legislation. The digital euro aims to enhance eurozone payments and reduce reliance on foreign providers, but faces resistance, particularly from German banks and citizens concerned about its impact on savings and privacy. Berger's resignation opens the way for a new leader to advance the project, with potential candidates including former Spanish central banker Fernando Navarrete Rojas.