ECB's Fabio Panetta stated: We have been investigating the technical solutions that would enable people to easily make payments in digital euro, anywhere in the euro area.'
Fabio Panetta, a member of the executive board of the European Central Bank , announced the digital euro project was entering its final phase. Before the committee on economic and monetary affairs of the European Parliament, Panetta stated that the digital euro, if approved, would be focused on making payments easier for Europeans.
Furthermore, he declared that the digital euro could be given legal tender status by legislators, making all merchants capable of accepting digital payments obliged to accept it. On the other side of the spectrum, it would allow banks and payment processors to cut their reliance on other providers, allowing the construction of a “truly European” new platform.
Panetta also talked about the ideal requirements that the digital euro should fulfill if launched, stating:
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