My address today will contain three important elements: First, a vision for our payments system – one that meets the evolving needs of consumers and businesses and thereby supports productivity growth and improving living standards. Second, a vision for the oversight of the payments system – one that helps to ensure its safety and soundness, its efficiency and its security.
Moreover, a positive side-effect of a legal tender status may be that it facilitates network effects, allowing citizen to have the option to "pay anywhere" and easily access the digital euro. Indeed, the digital euro can only act as a monetary anchor if it becomes a convenient digital medium of exchange that is part of the everyday lives of Europeans.