Yesterday, a plenary debate on the "digital Euro" took place in the German Bundestag. A noteworthy aspect of this session was the delivery of a pro-Bitcoin speech for the first time.Initiated by CDU/CSU and AfD ProposalsThe debate was sparked by the proposal from the CDU/CSU faction, calling for a broader societal debate on the digital Euro in Germany and advocating for mandatory approval from the national parliaments of EU member states for the digital Euro. The CDU/CSU proposed that the German government commit to approving the introduction of a digital Euro in the Council of the European Union only if the German Bundestag has previously endorsed its introduction. Additionally, the proposal insisted on the government actively opposing any initiatives to weaken cash and ensuring the legal status of cash remains unaffected.The AfD also submitted a proposal on the matter, taking a more explicit stance. The party aims to enshrine another right in the German constitution, ensuring the "unrestricted use of cash." Furthermore, the AfD calls for the German government to actively prevent the introduction of a digital central bank currency at the EU level. The proposal states that the "ECB and the national central banks (NCBs) of the Eurosystem [should not issue] any digital central bank currencies."The DebateTwelve representatives participated in the debate, exchanging arguments over approximately 40 minutes. Generally, all twelve acknowledged the importance of a comprehensive debate on the digital Euro. They also expressed support for the preservation and freedom of cash.However, three speakers, including two independent representatives and one from the AfD, explicitly opposed the digital Euro. They voiced opposition to the abolition of cash, government surveillance, and the potential risks associated with a digital Euro, advocating for an additional constitutional right to use cash.The AfD goes further, proposing to make cash the sole legal tender and to hold a public vote on the digital Euro. The party rejects further virtualization of the Euro and criticizes the fiat money system, condemning money printing and advocating for a tie to natural resources. The AfD even receives a reprimand for holding up gold notes.Other factions, from Die Linke to CDU/CSU, distanced themselves from these statements, labeling them as conspiracy theories.The CDU/CSU faction defended its proposal, emphasizing the importance of the debate and the necessity of parliamentary involvement in the decision-making process regarding the digital Euro. They stressed the need to examine the pros and cons and reaffirm the commitment to cash.The SPD faction also supports clarifying open questions about the digital Euro but finds the proposals from CDU/CSU and AfD exaggerated, as the criticism is deemed unjustified. The commission is expected to strengthen, not weaken, cash. The existence of cash is already legally guaranteed, and the digital Euro is seen as an alternative rather than a replacement for cash.A similar perspective is shared by the representative of Die Linke, dismissing the surveillance state argument as nonsense and even suggesting that citizens' data would be better protected by a digital Euro.The FDP faction unequivocally rejects the alleged programmability of the digital Euro. They state that it is legally impossible for the Euro to be programmable or bear interest. Moreover, they argue that cash has been strengthened, and any other claim would be unfounded.The Greens faction echoes these sentiments. They criticize the AfD for spreading fear with scenarios such as a cash ban, overindebtedness, power outages, and a surveillance state. Instead, they argue that risks arise from highly speculative crypto assets and private alternatives to money. The rejection of blockchain technology and the programmability of the digital Euro is welcomed.The entire debate can be viewed here.

Pro-Bitcoin Statement by Joana CotarIn a brief speech yesterday, the independent member of the German Bundestag, Joana Cotar, made history. Never before has a political representative in the Bundestag expressed such a positive view of Bitcoin. Wearing a Bitcoin symbol on her shirt, initially criticized by the Bundestag vice president, she delivered a speech against digital central bank currencies worldwide and the introduction of the digital Euro, referring to Bitcoin as "sound money.""Those who want to preserve privacy use cash; those who are fed up with fiat money and deal with sound money have bitcoins in their wallet."

Independent MP Joana CotarAccording to Cotar, nobody would need the digital Euro except for politicians aiming for total surveillance of citizens. While the opposite is claimed, she warns against the Social Credit System inspired by China and the associated state control that could restrict citizen payments."We don't need a vote on the 'how,' we don't need the digital Euro at all."

Independent MP Joana CotarRegardless of one's opinion of her, with this short speech, she resonates with many Bitcoin enthusiasts.Cotar's speech can be viewed here.

ConclusionBlocktrainer's opinion: It's truly unfortunate that the majority of parties dismiss the potential risks of the digital Euro or a European central bank currency as populism and conspiracy theories. In the United States, there are presidential candidates and bills targeting digital central bank currencies (CBDCs). Politicians there have recognized and taken seriously the dangers posed by such currencies. Examples like China show that the state can abuse the monetary system. Additionally, incentives could be created to abandon cash, justifying its later abolition. Numerous "cashless concepts" already exist.The creation of an infrastructure enabling total citizen surveillance and control should always be questioned and criticized. Otherwise, civil liberties are at risk. No one can predict which government will be in power in ten years and what goals it will pursue. Furthermore, the fiat money system would not be improved by the introduction of a digital version. The creation of money out of thin air, the expropriation of savers, loss of purchasing power, state funding of wars, the Cantillon effect—all of these issues persist with the introduction of the digital Euro and could even worsen. Therefore, engagement against digital central bank currencies and for the spread of knowledge about Bitcoin is important, irrespective of the political spectrum. At this point, thanks and praise should be extended to Joana Cotar and the "Bitcoin im Bundestag" initiative for their efforts.

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