Austrian National Bank urges swift political agreement on a digital euro as Eurosystem work continues

The Austrian National Bank published an update on its Open Forum on the digital euro and payments, framing a digital euro as a strategic European priority and a digital counterpart to cash that would provide a secure, simple and free legal digital means of payment across the euro area. In opening remarks, Governor Robert Holzmann argued that geopolitical developments make a digital euro more necessary to strengthen euro area sovereignty and resilience, while the Eurosystem continues technical preparations pending a political decision on whether to introduce it. The programme combined an overview of the project’s status by the European Central Bank with discussions on consumer needs, including financial inclusion, and market-facing technical and regulatory questions. Topics included the digital euro’s innovation potential, the design of a public-private partnership, how it could complement private initiatives and be embedded into existing payment infrastructures, and how required investments could be financed. OeNB payments director Petia Niederländer highlighted interoperability between public and private solutions and the role of a universally accepted public option as a safety net, with alignment to European standards such as the Single Euro Payments Area and instant payments positioned as a basis for further innovation. The release stresses that the go-ahead for a digital euro is ultimately a political decision and calls for rapid agreement, while noting the OeNB’s ongoing engagement with Austrian stakeholders and its secure information portal for market participants preparing for a potential rollout.