What are the advantages of a digital euro? Volker Wieland at the hearing in the Bundestag's Finance Committee

What are the advantages of a digital euro? At a hearing in the Bundestag's Finance Committee, experts including Prof. Volker Wieland commented on the possibilities and approaches to the design. According to Wieland, there is ultimately already a digital euro, i.e. "a state-provided currency".

However, this digital central bank money is only available to banks that have a corresponding account with the central bank, according to his statement. The statement is based on a joint essay by the IMFS professors on the opportunities and risks of a digital central bank currency.

News on the public hearing
Video of the public hearing in the Finance Committee
Statement of Prof. Volker Wieland
Wirtschaftsdienst - Zeitschrift für Wirtschaftspolitik: Roland Broemel, Alexander Meyer-Gohde, Volker Wieland, "Der digitale Euro: Chancen und Risiken einer digitalen Notenbankwährung", Heft 12/2023, S. 801-806