The Interview: Digital euro will offer ‘cash-like privacy’, says Dombrovskis
We sat down with Commissioner Valdis Dombrovskis last week. He told us the digital euro would offer ‘cash-like privacy’ and cut Europe’s reliance on foreign card schemes. Read more: The Interview: Digital euro will offer ‘cash-like privacy’, says Dombrovskis
EU Commissioner Valdis Dombrovskis addressed a Research Ireland gathering on 17 September, discussing the digital euro. He stated that the digital euro would offer 'cash-like privacy' and reduce Europe's reliance on foreign card schemes. Dombrovskis, the European Commissioner for Economy and Productivity, Implementation and Simplification, said the Irish Presidency is committed to finalising the legislative process for the digital euro this year.
If the Irish Presidency achieves this, the European Central Bank (ECB) could begin preparations, leading to the digital euro's launch in 2029. Ireland holds the rotating Presidency of the Council of the EU from 1 July to 31 December. The digital euro proposal was first tabled by the Commission in June 2023, with the Council agreeing on its negotiating mandate in December 2025 and the European Parliament adopting its position in July.
The Commissioner emphasized that the digital euro would provide greater privacy than current payment cards and would complement cash rather than replace it. He also highlighted the digital euro's role in developing European-based payment solutions and promoting the euro area's strategic autonomy.
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