Creditors and counterparties of solvent operating  2  BIS central bankers’ speeches  subsidiaries might rush for the exit if they are unsure of their status. As a subsidiary comes under increasing stress, authorities might preemptively ring-fence local assets. The process of resolution will need to be fully worked out and understood beforehand by market participants, regulatory authorities, and the general public.
These will help us define what a digital euro might eventually look like. Importantly, a digital euro would be designed to work together with private payment solutions, facilitating the provision of pan-European solutions and services to consumers. With global cooperation it could eventually also solve many of the issues plaguing cross-border payments. So why should we introduce a digital euro alongside cash?