Digital Euro: Not a Threat, but Liberation

The proposed digital euro is not designed to replace cash but to serve as a complementary public digital payment option. "The digital euro is not intended to replace the cash euro, but merely to supplement it," writes Evelyn Regner. "Without a public digital means of payment, we leave the digital field entirely to private foreign providers." Many daily online transactions, from ordering goods to paying for services, are handled by U.S. payment giants like Visa, Mastercard, and PayPal. This reliance grants these companies immense profits and creates a significant dependency for European markets. According to the European Central Bank, some countries are almost entirely dependent on Visa and Mastercard, with Austria at the forefront. This situation weakens Europe's financial and strategic autonomy, tying it closely to the United States. Achieving true independence requires addressing all facets of self-determination, including financial sovereignty. Control over payment infrastructure equates to control over access to money, a powerful lever for political influence. The case of Nicolas Guillou, a judge at the International Criminal Court, illustrates this point. After being placed on a U.S. sanctions list, Guillou was denied access to his own funds because his payment cards utilized U.S. infrastructure. Such instances bolster the U.S. negotiating position and limit the EU's maneuverability, potentially making the bloc vulnerable to blackmail. Furthermore, Europe remains susceptible to shocks originating from the U.S. financial market. The digital euro is therefore presented not just as a monetary policy measure but as a crucial element of security policy. A European, publicly controlled payment infrastructure would be shielded from foreign sanctions regimes, restoring Europe's ability to act autonomously within its own currency area. This move is essential for safeguarding financial sovereignty and ensuring strategic independence.

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The digital euro is not intended to replace the cash euro, but merely to supplement it. Without a public digital means of payment, we leave the digital field entirely to private foreign providers.