, Columnist
Europe Is Planning Its Very Own E-Currency
A digital euro might let the single currency chip away at the dollar’s dominance, but there are real risks to the banking system.
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The European Central Bank appears serious about a digital euro.
Barely a month after the central bank issued a major report on the topic, and opened a public consultation, President Christine Lagarde said “her hunch” is that the euro zone could have its own electronic currency within two to four years. Provided the rest of the institution’s governing council agrees with her, this could put the ECB well ahead of other major western central banks — above all the U.S. Federal Reserve.