Christine Lagarde, president of the European Central Bank, has announced that the digital euro will be ready for October 2025.
However, she stressed the importance of moving forward with the legislative process that would impose the digital euro, urging the European Commission, the European Council, and member states parliaments to accelerate the laws and directives that are required to make the digital euro viable.
Why the rush? The European Central Bank’s losses have risen to 7.8 billion euros, and the European monetary authority has posted the second consecutive loss, while sovereign bonds in Europe have slumped again in the first two months of 2025. The ECB needs a digital euro to wash away its disastrous policy of the past decade.
The second reason is because confidence in the ECB’s policy is declining, sovereign bonds are not a reserve asset anymore, and inflation expectations rise. The hurry to impose the digital euro also comes at a time when European member states have announced large plans to spend, borrow, and invest in defense. Thus, the digital euro is critical to imposing the use of the euro as a currency, expanding the control of citizens, and disguising fiscal imbalances with a dangerous tool issued by a monetary institution that has lost most of its credibility in the past five years.
Remember that the ECB’s mandate is price stability, but inflation in the euro area has exceeded 22% in the past four years. At the same time, the European sovereign bond index has fallen by 14% since 2022. ….
In the European Union, where limits to freedom of expression and the cancellation of elections are already a concern, a CBDC can be seen as surveillance masquerading as currency.
It looks like they can’t do the job they want to do on us with the usual set-up for money, so they have to change banks and money into a totalitarian nightmare. Welcome to the New World Order of the motherWEFers!! The illegitimate offspring of female canines think that they can rule every little detail of the economy to the benefit of themselves and the detriment of every other poor soul in their area of influence. Why would anybody listen to the ECB, when the leader has been convicted of embezzlement to the tune of 400 million euros? Will the Europeans go silly and actually, voluntarily start using this disastrous surveillance system on their own accord? Only time until after October 2025 will tell.