Overview
- A committee of the European Parliament approved draft rules on Tuesday that move the digital euro into trilogue talks with member states and the European Commission.
- The European Central Bank plans a 12‑month pilot starting in the second half of 2027 and has targeted a possible public launch in 2029 if legislation is finalised on schedule.
- Officials say the digital euro would be central‑bank‑backed, held in a separate digital wallet, work online and offline, protect user privacy, and carry legal‑tender status.
- Commercial banks have warned of high adaptation costs and the risk of deposit outflows, with cost estimates ranging from about €4–5.8 billion from the ECB to €18 billion from the European Banking Federation.
- If Parliament clears the draft in plenary, trilogue negotiations could start next month and a final deal by year‑end would reshape who processes euro payments and how consumers pay in shops and online.