Italian banks support plans for a digital euro, but they want one important thing: time. The Italian Banking Association argues that the project is costly and banks should not be forced to pay for it all at once.
Marco Elio Rottini, president of the Italian Banking Association, spoke about the matter at a press conference in Florence. He said the Italian bank believes a digital euro will help Europe remain strong in the digital world. But building a system for that requires significant investment, so banks want to roll out the costs slowly.
🚨It’s huge!
Italian banks currently support a digital euro, but want to spread implementation costs across the system. pic.twitter.com/kykYwyp5jP
— Kyle Chasse / DD🐸 (@Kylechasse) November 10, 2025
“We support a digital euro. The euro protects Europe’s digital future,” Rottini said. “However, the cost is high, so I think we should take time to popularize it.”
Is there a need for a digital euro?
The European Central Bank (ECB) is working to develop a digital euro to keep up with the rapidly changing world of payments. Currently, many digital payments rely on companies outside Europe. A digital euro could preserve Europe’s independence and provide people with another secure payment method.
The ECB also wants to accommodate the growth of stablecoins and private digital currencies. A digital euro will not replace cash, but will work alongside it.
After two years of planning, the ECB is now moving to the next phase of the project. Pilot testing is scheduled for 2027. If all goes well and the European Union approves the final rules in 2026, a digital euro could be launched in 2029.
🇪🇺 Latest news: ECB President Christine Lagarde said the EU plans to launch a digital euro CBDC by October this year.
Would you like to try it?pic.twitter.com/MQnWw11tJ9
— Coin Bureau (@coinbureau) March 9, 2025
Discussion about how to build it in Europe
Not everyone in Europe agrees on how large a digital euro should be. Some banks in other countries are concerned that funds could be taken out of their bank accounts if people move them to digital euro wallets.
Fernando Navarrete, a European lawmaker from Spain, recently proposed a small first version to protect private payment systems. Some banks also believe that both the digital euro and digital money issued by private banks should develop together in order for Europe to remain competitive in payments.
In conclusion, the Digital Euro project is moving forward, but debates over cost and design continue. Italian banks say they support the idea. However, they just want a fair pace. How Europe balances innovation and cost will shape the future of digital payments in the region.
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