European governments agree to introduce a digital euro

European governments have agreed to introduce a digital euro, aiming to enhance payment system resilience and reduce reliance on foreign providers. This digital currency, guaranteed by the central bank, is intended to function like physical cash, offering an alternative to bank account balances and ensuring payment continuity during cyberattacks or geopolitical disputes. The proposal now moves to the European Parliament, with potential implementation as early as 2029, following negotiations and addressing concerns about privacy and programmability.