70 European Economists Call for Digital Euro to Prevent Private Stablecoins from Monopolizing the Payment Ecosystem

LiquiditySurfer · 2026-01-12T12:44:14+00:00

A public letter signed by 70 economists and policy experts calls for support for the digital euro to address the challenges posed by the decline in cash usage. The experts emphasize that the digital euro should be issued centrally by the central bank and offer free basic payment services to protect Europe's monetary sovereignty and financial security, preventing the influence of private stablecoins and foreign giants.

LiquiditySurfer

2026-01-12 12:44:14

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【BitPush】A recent open letter initiated by European financial industry professionals has attracted attention. Seventy economists and policy experts have collectively voiced their support for a digital euro scheme that serves the public interest.

Why are so many experts speaking out simultaneously? The reason is actually simple. As cash usage declines, Europe faces a choice: let the central bank control the future of digital payments, or allow private stablecoins and foreign payment giants to fill the gap. The experts clearly favor the former.

The signatories are also notable. Well-known figures such as José Leandro, former Executive Director of the European Bank for Reconstruction and Development (EBRD), and French economist Thomas Piketty are on the list, reflecting that this is not just a suggestion from a small circle, but a collective reflection on Europe’s financial future.

Specifically, what is their proposed plan? The experts position the proposed central bank digital currency (CBDC) as a public good. The core proposals include: issuance unified by the euro system, all basic payment services free of charge, covering the entire Eurozone. More importantly, this scheme is meant to complement rather than replace cash, providing users with multiple options.

The underlying logic is quite clear—if Europe does not proactively build its own digital payment infrastructure, private stablecoins and foreign payment giants will take advantage, posing risks to Europe’s monetary sovereignty and financial security. The digital euro is not just a technical issue but a strategic one involving Europe’s economic independence.

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BearMarketMonk

· 01-12 16:08

70 economists sign on, essentially just competing for the right to speak. Central bank digital currencies vs. private stablecoins, at their core, are a game of power; everyone wants to be the helmsman. History has long taught us that these kinds of issues often end up as products of compromise.

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RektRecorder

· 01-12 13:14

Central bank digital currency, to put it simply, is about vying for dominance. No one wants to be led around by PayPal and others. Piketty has even come out to take a stand. This situation is indeed unusual; Europe is really going to clash with private stablecoins. Again, 70 economists, and what about public interest? It sounds so familiar... Isn't it just another way of the central bank's rhetoric? I'm optimistic about Europe's move; they understand this much better than some other central banks. Can private stablecoins really monopolize? I think that's overestimating them. If the central bank truly wants to act, it’s just a matter of minutes.

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LiquidatedThrice

· 01-12 13:12

Central bank digital currency, to put it simply, is Europe competing with US giants for dominance. Even Piketty has come out to endorse it. The lineup is indeed impressive, but it still depends on how the EU handles it. Rather than letting PayPal and others exploit European consumers, it's better for the central bank to take charge itself, since escaping regulation is impossible. 70 economists have signed a joint statement, which shows they have a voice... but whether those truly in power listen or not is another matter. The stablecoin system... is called innovation in the best case, but in the worst case, it's just money grabbing. The EU hasn't woken up quickly enough.

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YieldFarmRefugee

· 01-12 13:07

Here we go again? Central bank digital currency vs private stablecoins, essentially a power struggle. Europeans react very quickly. Why does it feel like the whole world is rushing to issue CBDCs, as if afraid of being replaced by stablecoins? Piketty has even signed off on this, which is indeed a big deal. Under the guise of anti-monopoly, it's just about monopolizing, only changing the entity. But compared to being held down by USD stablecoins, the digital euro issued by the central bank indeed better protects its own financial lifeline. These economists finally realize that financial sovereignty must be held in their own hands.

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StableGenius

· 01-12 13:06

nah this is just cbdc theater, as predicted. they're gonna build it anyway regardless of what 70 economists cosplay about

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ZKSherlock

· 01-12 13:01

actually, this whole "prevent private stablecoin monopoly" framing is doing a lot of heavy lifting here... tbh the cbdc pushback is just governments realizing they need surveillance-grade payment rails before the tech gets away from them entirely. piketty signing on doesn't make it less of a privacy nightmare lol

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RugResistant

· 01-12 12:56

nah this smells like regulatory theatre tbh... 70 economists signing off on cbdc doesn't mean they've actually audited the implementation. seen this pattern before - lots of fancy names, zero transparency on the tech stack. who's building this thing and what's the actual codebase look like? that's what matters.

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