If the digital euro is introduced, its emission will be limited to 1.5 trillion euros. This was stated by Fabio Panetta, member of the board of directors of the European Central Bank (ECB).

According to him, EU officials fear that consumers will be able to transfer all their money to a digital format and actually transfer it to the Central Bank. This would deprive commercial banks of the funds they need to lend to individuals and businesses.

The limited issuance of the digital euro will help prevent negative consequences for the EU’s financial system and monetary policy.

“There are now about 340 million people living in the eurozone, which will allow you to do digital storage between 3,000 and 4,000 euros per person,” Panetta said in a statement.

He added that consultations between citizens by the European Commission in 2021 did not show much “digital euro enthusiasm”. This is partly due to the “complexity” of the technology for the average user.

However, Panetta urged not to place too much emphasis on these results, as “the counsel is not based on a representative example of a citizen.”

Recall that the attempt to issue a digital euro appeared in November 2019. In October 2020, the ECB published a comprehensive report on this topic.

In May 2022, Fabio Panetta authorized the issuance of a digital euro until 2026.

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