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Central Bank Digital Coins (CBDCs) and Monetary Sovereignty: Opportunities and Risks in the European Context

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  • GEORGAKAS, IOANNIS

Abstract

Adopting a common European digital currency seems likely to be a powerful monetary tool that will facilitate the implementation of policies such as quantitative easing and interest rate regulation. On the other hand, the risk of destabilisation of the banking system , requires careful planning and public awareness. CBDCs will strengthen the EU geopolitically and seem to have an environmental dimension. The debate within the EU and the ECB is intense both on issues of legitimacy under the European Treaties and on issues of democracy and privacy rights. In practice, this is a technological innovation with serious parallel economic, social and political consequences.

Suggested Citation

  • Georgakas, Ioannis, 2025. "Central Bank Digital Coins (CBDCs) and Monetary Sovereignty: Opportunities and Risks in the European Context," MPRA Paper 124457, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:124457
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    More about this item

    Keywords

    CBDCs; Eurozone policy; Monetary Sovereignty; ECB; Personal Data; Privacy;
    All these keywords.

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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