European Central Bank – annual report 2024

Tabled by Auke Zijlstra, Enikő Győri, Jorge Martín Frías, Paolo Borchia

26. Removed: Welcomes the ECB’s progress on the digital euro project and its Added: Notes that the US President Donald Trump has recently issued a ‘digital financial technology’ executive order terminating all federal agencies’ work on a digital US dollar; recalls that the Bank of Canada, the Swedish Riksbank and the Danish Nationalbank have also discontinued their work on their respective central bank digital currencies (CBDCs); calls on the ECB and the Commission to take these developments into account in the ongoing preparatory process and in their ongoing dialogue with Parliament; Removed: underscores that the digital euro should deliver clear added value to European citizens, including enhanced strategic autonomy in payments, a higher level of competition in the retail payment market, potential to foster innovation in payments and finance, improved financial inclusion and a reliable offline backup payment system; calls on the ECB to clearly communicate these benefits in order to foster public trust and awareness; notes that the EU co-legislators will need to strike the right balance, among others, on holding limits, privacy concerns, competition with private payment solutions and usability in a business context;

Wording as published by the EP, in English. PE769.117v01-00