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European Stability Mechanism Head Says Digital Euro ‘More Necessary Than Ever’

  • European Stability Mechanism (ESM) Managing Director Pierre Gramegna believes that the digital euro is more necessary than ever.
  • The Trump administration's interest in cryptocurrencies and dollar-denominated stablecoins could threaten Europe's monetary autonomy and financial stability.
  • The European Central Bank (ECB) has been developing a digital euro since 2021 and is expected to decide on its implementation later this year.
  • The ECB hopes that the change in the U.S. perception of digital currencies will help accelerate the process of implementing the digital euro.

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