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Council agrees position on the digital euro and on strengthening the role of cash
On 19 December 2025, the Council agreed its negotiating position on key proposals to strengthen the euro currency by:
enabling the introduction of a digital euro
clarifying the legal tender status of euro cash
The digital euro would complement cash and would be available to the general public and businesses to make payments anytime and anywhere in the euro area.
Clarifying the legal tender status of euro cash aims to ensure the acceptance of cash as a means of payment throughout the euro area, as well as ensuring that people have access to cash and are free to choose their preferred payment method.
Eurogroup welcomes the decision of the ECB to launch the next phase of the digital euro project
The conclusion of the investigation phase is a milestone, said the Eurogroup in a statement on the start of the next phase of the digital euro project. The decision taken by the ECB’s Governing Council will allow the Eurosystem to further explore and test the design aspects and functionalities of a digital euro.
The preparation phase does not prejudge any future decision on the possible issuance of a digital euro, which would only come at a later stage and would inevitably depend on EU legislative developments.
'A digital euro is all about the natural evolution of our common currency'
The Eurogroup continued its discussions on the digital euro, further to the European Commission single currency legislative package. The Commission published its proposals on the legal framework for the possible introduction of a digital euro and on the legal tender status of euro banknotes and coins on 28 June 2023.
A digital euro is all about the natural evolution of our common currency. It's not about ending cash in any way. It's about offering a digital version of cash in a world that is increasingly digital. There's obviously a long way to go before we see the digital euro in our virtual wallets. But today was an important moment of political discussion, in a democratic way, regarding how our currency could develop.
Paschal Donohoe, President of the Eurogroup
The proposals will be subject to further thorough political discussions in both the European Parliament and the Council.
Eurogroup discusses progress on digital euro project
The Eurogroup examined the progress made on the digital euro project. The discussion was based on an update from the European Commission ahead of the publication of its legislative proposal and a presentation by the European Central Bank (ECB) on the high-level product description of the digital euro, including aspects related to the compensation model.
Issues that ministers discussed today were the importance of developing a compelling and clear narrative regarding what would be the added value of this development and the difference that it would make to the lives of the citizens of Europe and to the commercial activity of businesses within the European Union. We acknowledge that while there is broad support regarding the project that is underway, within our institutions ministers want to support this work but also look at how we can further develop that narrative.
Paschal Donohoe, President of the Eurogroup
Eurogroup discusses central bank digital currencies
The Eurogroup in inclusive format exchanged views on the international aspects of central bank digital currencies (CBDCs) and on the progress on the digital euro project. The discussion was based on an issues note, presentations by the institutions and an update from the Swedish minister for finance, Elisabeth Svantesson, on the state of play of the e-krona project.
We discussed the benefits and the drawbacks of potentially allowing users outside of the euro area to have access to the digital euro and the European Central Bank presented to us the options and the trade-offs that are involved in making the digital euro work with other central bank digital currencies. We all acknowledge the importance of international cooperation in this area.
Paschal Donohoe, President of the Eurogroup
Digital euro: stocktake on the advancement of the project
The Eurogroup took stock of the advancement of the digital euro project and discussed the way forward.
Ministers adopted a Eurogroup statement which summarises the views expressed on the policy topics discussed so far and outlines the continuation of the Eurogroup involvement in this project.
Eurogroup takes stock of the state of play of the work on a digital euro
The European Central Bank and the European Commission updated the Eurogroup on the digital euro. The Eurogroup then issued a statement in support of the work carried out by the Eurosystem and the Commission on a digital euro. This investigative work needs to build on careful and thorough analysis and will benefit from Eurogroup members’ views during the process.
The creation of a digital euro would also require an intervention of the Union legislature; and the Commission intends to make a proposal on the basis of Article 133 TFEU. In this context, the Eurogroup welcomed the intention of the Commission to launch a targeted public consultation on a digital euro as part of the pre-legislative process.
Eurogroup discusses policy objectives and uses of the digital euro
The Eurogroup discussed the policy objectives and uses of the digital euro in the context of the fast pace of digitalisation in the global economy, its impact on the euro area and the common currency, and took stock of related initiatives and developments at international level.
As consumers and firms turn increasingly to electronic payments, we want to ensure that our citizens and all actors in our economy continue to have access to public money in a range of scenarios. For instance, a digital euro could offer a European solution in a context of increased demand for alternative means of payments.
Paschal Donohoe, President of the Eurogroup
Finance ministers exchange views on the digital euro project
The Eurogroup took stock of the ongoing work on the euro as a digital currency. The discussion was based on a report by the ECB outlining the results of the consultation on a digital euro that was launched on 12 October 2020.
Eurogroup discusses benefits and challenges of a digital euro
The Eurogroup held a strategic discussion on the benefits and challenges of a possible future introduction of a digital euro. This is one of the priorities included in the Eurogroup work programme until June 2021.
A European Central Bank (ECB) report of October 2020 served as input to the discussion.
We encourage the ECB to pursue its work in relation to models and options for the possible issuance of a digital euro. In the meantime, (...) we will consider implications of the project on our monetary sovereignty, financial stability, bank funding, consumer protection and on the international role of the euro.
Paschal Donohoe, President of the Eurogroup
Issues that ministers discussed today were the importance of developing a compelling and clear narrative regarding what would be the added value of this development and the difference that it would make to the lives of the citizens of Europe and to the commercial activity of businesses within the European Union. We acknowledge that while there is broad support regarding the project that is underway, within our institutions ministers want to support this work but also look at how we can further develop that narrative.
We discussed the benefits and the drawbacks of potentially allowing users outside of the euro area to have access to the digital euro and the European Central Bank presented to us the options and the trade-offs that are involved in making the digital euro work with other central bank digital currencies. We all acknowledge the importance of international cooperation in this area.