⚡️🇪🇺 WATCH - In response to criticism that the digital euro—the EU's incoming CBDC—is "a solution in search of a problem", ECB chief Christine Lagarde claims that only CBDCs can provide a trustworthy digital equivalent to cash, as physical banknotes are gradually phased out.

"Central bank money has to remain an active part of the system that people can actually trust."

"Money issued by central banks has to have its digital form because we're moving into a different era where not everybody will want necessarily to have banknotes."