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New Economics Papers. Westermeier, Carola. The digital euro under consideration represents a retail Central Bank Digital Currency CBDC , a digital representation of central bank money that is intended for use by the general public. This article foregrounds the digital euro as an infrastructure that furthers European security ambitions. It argues that the development of the digital euro is a materialization of European in security rationales that aim to secure pan-European financial transactions amid growing geopolitical tensions.
While the provision of a financial infrastructure is the most decisive security-related implication of the digital euro, the introduction of a new form of public money is the decisive financial feature with potentially wide-ranging implications for banks. Although the ECB seeks to balance the interests of banks and other financial actors in the development of the digital euro, its plans are still met with criticism.
