Will the European Parliament formally approve the digital euro framework?

More than 60 European economists and academics have urged the European Parliament to back the digital euro, warning that failure to do so would increase the EU’s dependence on U.S. payment providers and weaken monetary sovereignty. Signatories include Thomas Piketty, and the appeal was highlighted by the Financial Times ahead of parliamentary hearings. The initiative, supported by the European Central Bank and endorsed in principle by the Council of the European Union in December 2025, faces resistance from major banks concerned about deposit outflows and competition with private payment systems. The debate now centers on whether lawmakers will endorse a full-scale digital euro or water the project down.