Lawmakers as representatives of the people should resist the anti-competitive proposals of the banking sector and embrace a vision of the digital euro that serves the collective interests of Europeans, Dr Martijn van der Linden and Vicky Van Eyck write.
The influence of the banking lobby on policymakers risks undermining the digital euro's potential. Lawmakers as representatives of the people should resist the anticompetitive proposals of the banking sector and embrace a vision of the digital euro that serves the collective interests of Europeans. This means that the digital euro must be attractive, accessible and beneficial to all. The deliberation process must be free from the disproportionate influence of an industry that has much to lose from a level playing field for payment services and financial intermediation.