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12 October 2020 "The ECB is looking seriously at a digital euro".
This was stated by the president of the ECB, Christine Lagarde, speaking at an IMF meeting.
"The pandemic has changed the nature of domestic business. Work as it was will be different. The way we shop and pay has changed - explains Lagarde -. Digital payments have increased significantly, in Germany and Italy. there is a significant change ", there is greater confidence in digital payments.
ECB President Christine Lagarde is concerned about a possible sudden interruption of the support policies taken by governments to tackle the crisis resulting from the pandemic.
These are measures that will be gradually reduced, he explains in a dialogue with the head of the European Department of the Monterary Fund Alfred Kammer, only in parallel with new measures capable of supporting new activities.
"My first concern today is that measures such as moratoriums and guarantees can be stopped abruptly; we hope - he continues - that policy makers understand that these support measures must continue for a certain period even if the recovery consolidates and even if the pandemic is gradually reduced ".
We need to ensure, Lagarde explains, that there is a smooth transition to new policies that can support growth.
The number one of the European Central Bank explains that the new policies she thinks about fall into three categories: the framework of the rules, investments, education and training.
With regard to the first aspect, Lagarde stresses the need to have an efficient framework of rules that does not penalize startups capable of creating employment in favor of 'incumbent' operators.
With regard to investments, Lagarde stresses that Europe is lucky to have a plan, the 750 billion Recovery Fund, which will focus on key aspects for the revival of the economy such as sustainability and digital.