ECB’s Panetta Says Digital Euro Should Expand Overall Payment Solutions

ECB’s Panetta Says Digital Euro Should Expand Overall Payment Solutions
Fabio Panetta, a member of the European Central Bank’s (ECB) executive board, detailed the roadmap for the successful inclusion of a “digital euro” on Friday.The ECB is examining whether to introduce a central bank digital currency (CBDC) for retail payments, Panetta said in a speech at the Elcano Royal Institute, Madrid.If payment trends in the European Union (EU) continue, cash could quickly lose its central role and become a redundant way of settling bills.“Just as the postage stamp lost much of its usefulness with the arrival of the internet and email, so too could cash lose relevance in an economy…