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Lagarde Says ECB Could Have Digital Currency Within Four Years

  • ECB officials will decide mid-2021 on whether to proceed
  • President promises notes and coins will still be available
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WATCH: Lagarde says the ECB Governing Council will make a decision on a digital currency by mid-2021.Source: Bloomberg

European Central Bank President Christine Lagarde said her institution could launch a digital currency around the middle of this decade if her fellow policy makers give the project the green light this summer.

“We need to make sure that we do it right - we owe it to the Europeans,” Lagarde said in a Bloomberg TV interview on Wednesday. “The whole process - let’s be realistic about it -- will in my view take another four years, maybe a little more.”