Lagarde Says ECB Will Decide on Digital Euro by Mid-2021

The transcript discusses the potential development of a digital euro by the European Central Bank. It outlines the decision-making process involving the Governing Council and the timeline for implementation, which could take up to four years. The importance of security and system enhancement is emphasized, ensuring the digital euro is as secure as traditional currency. The impact on banks and intermediaries is addressed, reassuring them of their continued role. The transcript also highlights the shift towards digital transactions post-COVID-19, indicating a growing trend in digital payments.

What is the role of the Governing Council in the decision-making process regarding the digital euro?

What are the key deliverables mentioned in the context of the digital euro consultation process?

How does the speaker view the timeline for the development of the digital euro?

What concerns do banks have regarding the developments of a digital euro?

In what ways has consumer behavior changed during COVID-19 according to the speaker?