2026-01-12 23:38:06

A coalition of 70 prominent European economists, including renowned scholar Thomas Piketty, has called on EU legislators to accelerate the development of a public digital euro rather than relying on private stablecoins. Their core concern centers on financial sovereignty—currently, 13 nations within the eurozone depend heavily on international card payment networks, creating vulnerability to external pressures. The economists argue that a state-backed digital currency would strengthen Europe's monetary independence and reduce exposure to foreign-controlled payment infrastructure. Meanwhile, the European Central Bank has signaled concrete steps forward, with plans to launch pilot programs by 2027. This push reflects a broader strategic debate: should digital payments be governed by public institutions prioritizing financial stability, or could private sector solutions offer greater innovation? The distinction matters significantly as digital currencies reshape global payment systems.

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MEVHunter

· 9h ago

Hey, wait a minute. If public chain payments are all backed by the central bank, what's the point of playing? The optimization space for gas fees is gone.

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GateUser-26d7f434

· 16h ago

The digitization of the euro, to put it simply, is Europe wanting to shed the shackles of the dollar system. Clever move.

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ContractTearjerker

· 01-14 16:40

Europe is once again contemplating the digital euro... Basically, it's afraid of being controlled by the Americans and wants to have control over the payment lifeline. I understand the logic of economists like Piketty, but can public blockchains really be more innovative than private stablecoins? There are definitely political games involved here.

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GasBandit

· 01-13 20:58

Europe is starting to play the "Digital Euro Independence Dream" again, basically out of fear of being tied to the US dollar. But I think, public blockchains are the true liberation; why wait for the central bank to issue you a coin?

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BlockchainFoodie

· 01-13 00:07

yo this is literally the farm-to-fork verification problem but make it monetary... if we can't even trace where our euros are coming from, how tf do we trust the supply chain? public digital euro hits different fr fr - it's like having a blockchain recipe for the entire eurozone's financial kitchen instead of letting random private chefs cook whatever they want with your ingredients

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TokenEconomist

· 01-13 00:06

actually, let me break this down—the sovereignty angle piketty's pushing is classic macro econ but misses the real efficiency problem. think of it this way: state-backed anything moves at bureaucratic speed, meanwhile defi protocols iterate in weeks. ceteris paribus, which system survives market pressure?

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blockBoy

· 01-12 23:59

Europe wants to develop its own digital currency again. Basically, they're still afraid of being controlled by the US dollar. I understand, but at this pace... trial only in 2027, by then the opportunity will have passed.

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MaticHoleFiller

· 01-12 23:50

Piketty and the others are planning to create a public chain Euro, hurry up, or else they'll really be beaten by the USD/Stables.

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FrogInTheWell

· 01-12 23:42

Here we go again with this set? Europe wants to shake off the dollar system's old tricks, and surprisingly, 70 economists have to come out and endorse it. That's really interesting.

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ImpermanentPhobia

· 01-12 23:42

Europeans are finally starting to think about breaking free from the dollar system, but it's a bit late... However, stablecoins on public blockchains have already been working on this. By the time they try their pilot in 2027, we'll have already played around with it extensively.

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