The internet and portable online devices have radically transformed the way we use and exchange information, and the way we exchange money. Money has been digitalised in many ways and we can now, for instance, transfer bank deposits electronically and pay with e-money. Today I will focus on one type of digital money – Central Bank Digital Currency, or Digital Base Money (DBM).
Now ten years later, it is time to sit down and try to make an initial assessment of the role of the euro as an international currency. For those who argued that the euro would become quickly a major international currency, developments have fallen somewhat short of expectations. Likewise those who expressed skepticism towards the historic decision to launch the euro were clearly misguided.