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Lenders will not be pushed aside by digital euro, Lagarde tells EU lawmaker

( January 22, 2021, 17:09 GMT | Official Statement) -- MLex Summary: Commercial bank deposits will not be eclipsed by the introduction of a digital euro, European Central Bank President Christine Lagarde told an EU lawmaker in a letter. The development of a digital euro would exist alongside rather than substitute cash, she added, and policymakers are assessing tools to safeguard the stability of the financial system in any introduction of an electronic currency. The EU is in “a phase of active listening” regarding the potential impacts of central bank digital currency, she wrote, adding that the ECB will publish an analysis of the 8,000 responses it received to a public consultation on the introduction of a digital euro. The letter is attached....

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