The statement clashed with the release of another report on the digital euro by the European Central Bank.
A statement was released by the finance ministers of the eurozone countries following a meeting in Brussels. The statement was regarding the introduction of the digital euro, for which the group of ministers meets regularly to discuss the various aspects of the digital currency. The European Central Bank released a report on similar lines on January 16, which showed in detail the progress of the digital euro, the reasons for issuing the digital currency, and the way ahead.
The official statement by the Eurogroup read, “The Eurogroup considers that the introduction of a digital euro as well as its main features and design choices requires political decisions that should be discussed and taken at the political level. The creation of a digital euro would require an appropriate legal basis, involving the European Parliament and the Council of the European Union based on a legislative proposal by the European Commission.” The Eurogroup lent its support to the digital euro and further stated several benefits of the digital currency in the statement.
The Eurogroup further stated their willingness to contribute to key discussions of the European Central Bank and other central banks of the eurozone area regarding all facets of the digital euro. The statement also welcomed the legislative proposal to be tabled by the European Commission to establish the digital euro and frame regulations for the currency.