Italian banks support the digital Euro

Italy's leading banks have expressed strong support for the European Central Bank's Digital Euro initiative (ECB), viewing it as an important step towards strengthening Europe's digital sovereignty, according to Mr. Marco Elio Rottigni – General Director of the Italian Banking Association (ABI). He stated that the banking sector has a positive outlook on this project but emphasized that the costs of building the infrastructure need to be implemented gradually.

Upgrading the banking system to support central bank digital currency (CBDC) requires significant investment in technology, cybersecurity, and compliance. ABI's support comes after EU finance ministers and ECB leaders reached an agreement allowing national governments to have a say in the deployment and limit the amount of money individuals can hold. For Italian banks, the digital Euro is a step towards financial autonomy and a unified European payment system.