But overall, the risk that a digital euro could have adverse effects in times of crisis cannot be ruled out. A digital euro should therefore be designed in a way that enables this risk to be strictly controlled, as I will discuss in more detail shortly.
This work has been strongly supported by the Eurosystem, notably via the ESCB Banking Supervision Committee’s annual report on EU banking sector stability and the biannual ECB Financial Stability Review of the euro area financial system.