EU Lawmakers Voice Doubts About Digital Euro After ECB Outage
European lawmakers are voicing fresh doubt about the European Central Bank’s ability to deliver its digital euro project following an outage in the ECB’s existing payment system. The breakdown in Target 2 (T2) caused delays for thousands of households and traders, raising concerns about the ECB's credibility. A successful digital euro would require restoring citizens' trust, with lawmakers emphasizing the need for improved systems and secure financial infrastructure.
- The incident highlights the fragility of complex technological systems, particularly those involving multiple stakeholders and high-stakes transactions.
- How will regulatory frameworks adapt to address the evolving security risks associated with central bank-issued digital currencies?