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Piero Cipollone: The Digital Euro - Enhancing Payments in the Euro Area

In a February 2026 speech to Italy’s Parliamentary Committee, ECB Executive Board member Piero Cipollone outlined the digital euro initiative, stressing its role in modernising payments and reinforcing trust through democratic legitimacy. He framed the project as a strategic response to global uncertainty, aiming to boost Europe’s economic independence and competitiveness. Cipollone highlighted the ECB’s dual mandate of issuing central‑bank money and safeguarding payment‑system stability as the foundation for the digital currency. The remarks underscored political scrutiny as essential for the project’s success.