Cyprus Ministry of Finance calls for safeguards and ceilings as it promotes the digital euro as a complement to the euro

Cyprus’s Ministry of Finance published a statement by Finance Minister Makis Keravnos on the sidelines of the “Presenting the Digital Euro in Cyprus” event, describing the digital euro as a tool to improve the competitiveness of the European economy and support the European Union’s digital transition. He also stressed that it should be treated as a complement to the euro, not a substitute. The event was organised by MEP Michalis Hadjipantelas in collaboration with the Association of Cyprus Banks, with participation from the European Central Bank, and featured a keynote by European Central Bank Executive Board member Piero Cipollone, chair of the High-Level Group on the Digital Euro. Keravnos linked the digital euro to broader European market integration efforts, including capital markets and banking system integration, and highlighted the need for safeguards and ceilings to protect banking system stability.