Piero Cipollone: Interview with Corriere della Sera

Piero Cipollone discusses the digital euro in an interview with Corriere della Sera. The digital euro is intended to complement cash, not replace it, and will offer the same high level of security as physical currency. It will be provided by the ECB, banks, or payment service providers, and will be available on phones. The digital euro aims to reduce payment fees for merchants, particularly small ones, and could be integrated into European private payment solutions.

It will also function offline, similar to cash. The project has solid public support, with over 80% of people trusting the euro. Legislation for the digital euro is being developed, with a pilot project already underway and the first tests set to begin next year. The ECB has been working on technical standards and has received over 60 applications for the pilot.

The digital euro is seen as a response to geopolitical concerns, aiming to provide European citizens with their own digital payment system, free from external influence.