Economists urge EU lawmakers to back a public digital euro, warning that private stablecoins and foreign payment companies threaten Europe’s monetary sovereignty. Seventy economists and policy experts called on members of the European Parliament (MEPs) to back a digital euro that serves the public interest, arguing that it is crucial for Europe’s monetary sovereignty and for guaranteeing access to central bank money in an increasingly cash‑light economy. The open letter, published on Sunday and titled, “The Digital Euro: Let the public interest prevail!,” warned that without a strong public option, private stablecoins and foreign payment giants may gain even greater influence over Europe’s digital payments. The signatories, including former European Bank for Reconstruction and Development vice president José Leandro and French economist Thomas Piketty, describe the proposed central bank digital currency (CBDC) as a public good. Read more