Image: Reuters
In a survey by the Austrian Society for European Politics (ÖGfE), 35 percent said they were unable to assess the question of the introduction. 50 percent were negative, according to the representative survey published on Tuesday, for which 1,000 people were interviewed by market. With the digital euro, the ECB wants to introduce an electronic means of payment, similar to cash today.
Also read: National Bank boss: “We shouldn’t say too early: We have won”
Many fear that the introduction of a digital euro will lead to the abolition of cash. In fact, the digital euro is intended to strengthen cash, because the digital euro, like coins and banknotes, would also be issued by the central bank – in contrast to bank or book money, which represents a claim on a bank. A digital euro, like coins and notes, would be independent of a specific bank.
“A digital means of payment issued and guaranteed by the European Central Bank would make the EU more resilient, as digital payments are now increasingly being processed by private providers, who are often based outside the EU,” explained Paul Schmidt, Secretary General of the ÖGfE survey results. Especially in a country like Austria, where cash is very important, more information and communication is needed for the introduction of a digital euro.
Finance Minister Magnus Brunner (ÖVP) recently said that he did not yet see the added value of a digital euro and pointed out that he was fighting to preserve cash at the European level.
more from economics
