European Parliament votes on digital euro legislation

On June 23, 2026, the Committee on Economic and Monetary Affairs (ECON) of the European Parliament held a vote regarding the implementation of the digital euro. The initiative aims to provide a local alternative for digital payments in stores and online, supporting European businesses. According to the European Central Bank, approximately two-thirds of card payments in the eurozone are currently processed by non-European companies, primarily Visa and Mastercard. Rapporteur Nikos Papandreou stated that the project seeks to reduce dependence on foreign payment systems like Apple Pay and Google Pay. Supporters argue that the digital euro will enhance European monetary sovereignty and reduce transaction fees for consumers and merchants. The system is intended to function via cards, mobile apps, and banking interfaces. The legislation follows a long-term effort to integrate the currency into the everyday economy.