A follow-up to the story from 14 July: a week after the ECB named the 36 providers for the pilot, the European Parliament approved the digital euro with about 70% majority. Cipollone laid out the road ahead - actual issuance around 2029 and a bill between 4 and 5.8 billion euros. For Bulgaria, which joined the euro this year, the topic is no longer someone else's.
- A follow-up to the story from 14 July (the 36 pilot providers) - here comes the bigger step.
- The European Parliament approved the digital euro with about 70%; trilogue negotiations are underway.
- Actual issuance is targeted for 2029; investment of 4-5.8 billion euros over 4 years. Bulgaria has been in the eurozone since this year.
A week ago we wrote that the ECB picked 36 providers for the digital euro pilot. This week came the bigger step. Not who tests it - but whether it becomes law at all.
The key is simple: the reason behind the digital euro isn't convenience. It's control. Two-thirds of card payments in the eurozone run through foreign rails. The digital euro is an attempt to move that flow onto its own, public infrastructure. It's not a new way to pay for your coffee. It's a new owner of the road you pay on.
This stops being someone else's topic for you if you pay in euros here. Bulgaria joined the euro this year - so the BNB is now part of the system that will issue it, and when it launches, it launches here too. The timelines are far off (2027 pilot, 2029 live) and there's a lot of politics along the way. But it's already law in motion.
Official digital money is coming - slowly, with dates and a price. For Bulgaria it's not foreign news; we're in the eurozone. Today there's nothing to do. There's something to watch - because when they change the rails money runs on, it reaches everyone who buys or sells.