by Emmitt Barry, Worthy News Correspondent
(Worthy News) – Marking the 25th anniversary of the euro, the European Union’s unified currency, Christine Lagarde, President of the European Central Bank (ECB), highlighted that the development of their Central Bank Digital Currency (CBDC) is not intended to replace traditional cash, but rather to complement it.
“We are 25 years old, but this is only the beginning of the Euro’s Journey as we bring our currency into the digital age by preparing the foundation for a possible digital Euro to complement cash. By the way, by the same token, we are also working hard on even more beautiful bank notes,” stated Lagarde in a 2024 New Year’s Address.
“We will keep working towards greater European integration in whichever way we can. Your Euro, your money,” she continued.
Lagarde expressed enthusiasm about transitioning the Euro into the digital era in anticipation of introducing the Central Bank Digital Currency (CBDC). She emphasized that a “united Europe” holds the key to providing the solutions Europeans and the global community need.
In October of 2023, the governing council of the European Central Bank announced the initiation of a two-year “preparation phase” for the digital euro, starting from November 1, 2023.
Copyright 1999-2024 Worthy News. This article was originally published on Worthy News and was reproduced with permission.
Latest News from Worthy News
Christians in the Philippines appealed for prayers Sunday after authorities warned of “life-threatening” surges as the sixth massive storm hitting the nation in the past month intensified.
Poland says it has scrambled fighter jets and mobilized “all available forces” on Sunday amid a “massive” Russian missile and drone attack on neighboring Ukraine that killed at least seven people.
Christian residents in the Dutch town of Urk, known for its many churches and fishing traditions, are providing shelter to Jews after the Netherlands’ first pogrom since World War Two.
The ‘Days of Repentance’ operation launched by Israel against Iran in late October targeted and destroyed a highly secretive nuclear weapons research facility in Parchin, according to Axios.
A United Nations committee has agreed to tackle “hate speech” and “misinformation” globally through Artificial Intelligence (AI) and media, despite worries the approach may “stifle pluralistic debate.”
Christians in Myanmar’s Rakhine state face continued persecution by the country’s Buddhist military junta (Tatmadaw), which has proved itself violently hostile to believers and recently imposed new restrictions on church services, International Christian Concern (ICC) reports.
Brief scuffles broke out, and soccer fans whistled and booed as the Israeli anthem played at the start of the France-Israel match in Paris following a pogrom against Jews in the Netherlands, officials said Friday.