EU Finance Ministers Pursue Consensus on Digital Euro
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On Friday, EU finance ministers are set to convene in an effort to reach a consensus on establishing a framework for the digital euro. The digital euro has the potential to emerge as a viable alternative to the payment systems operated by U.S.-based giants Visa and Mastercard. At present, the euro is already in circulation across 20 EU member states. Discussions regarding the introduction of a digital euro have been underway for six years. This year, however, these talks have intensified notably, as the EU is striving to diminish its reliance on other nations in crucial sectors, including energy, finance, and defense.