News
EU Finance Ministers Push for Digital Euro Framework Amid Disagreements
Finance ministers across the European Union are under mounting pressure to finalize a legal framework for a digital euro by the end of 2025, but divisions remain over privacy protections, limits on holdings, and the role of non-euro countries.
The push comes after EU leaders earlier this year urged ministers to accelerate talks on the project, seen as crucial to the bloc’s financial autonomy. Throughout July, negotiations in the Council of the EU gathered pace, with most governments backing the Danish presidency’s target of reaching a common position by late 2025.
Yet, several countries argue that more technical groundwork is required before moving forward. Germany’s Finance Minister Lars Klingbeil told colleagues in Brussels that the framework must guarantee “fair compensation models for banks, good distribution conditions, and a high level of privacy protection from day one.”
Other states raised additional concerns. Sweden has insisted the system must not overburden banks outside the eurozone. The Netherlands has pushed for strict holding limits to ensure the digital euro functions solely as a payment tool. Hungary has gone further, demanding a direct say over the issuance of the currency.
At the start of July, European Central Bank (ECB) Vice-President Luis de Guindos reiterated that no launch decision will be made until the legislative groundwork is completed. Both the Council and the European Parliament must adopt the framework before the ECB governing bodies decide whether to proceed, a step that would trigger a preparatory phase of about two and a half years.
De Guindos emphasized the urgency, warning that Europe’s growing reliance on U.S. payment providers threatens its financial independence. “Accelerating progress on the digital euro is essential to reduce our dependence on the U.S., as most electronic payment solutions are American,” he said. Currently, 13 of the 20 eurozone countries lack their own national card scheme, depending instead on international providers such as Visa and Mastercard.
The recent approval of the U.S. Genius Act, which regulates dollar-pegged stablecoins, has further sharpened concerns in Europe. ECB Executive Board member Piero Cipollone warned in April that Washington’s support for stablecoins could undermine Europe’s financial stability, underscoring the need to strengthen the euro’s role through a digital alternative.
According to the Financial Times, the ECB is still weighing which technology to adopt, including the possibility of using a public blockchain such as Ethereum or Solana. The ECB confirmed to Euronews that it is testing both centralized and decentralized solutions but has not yet made a decision.
Consumer groups also argue that Europe must build its own infrastructure. Anna Martin, head of financial services at the European Consumer Organisation (BEUC), said, “Current geopolitical uncertainties show very clearly the necessity to reduce Europe’s dependency on non-European providers in strategic areas.”
Still, progress in the European Parliament has stalled. A draft report on the digital euro was tabled in February 2024 by German MEP Stefan Berger, but no vote has followed. After Berger stepped down, Spanish MEP Fernando Navarrete took over the file in April 2025. Despite appeals from the ECB to advance the legislation, Navarrete has yet to comment publicly on the delays.
News
WHO Warns Congo Ebola Outbreak Could Surpass West Africa’s Deadliest Epidemic
The World Health Organization has warned that an Ebola outbreak in eastern Congo is spreading so rapidly that it could surpass the devastating West African epidemic of 2014 to 2016, which killed more than 11,000 people.
WHO Director-General Tedros Adhanom Ghebreyesus said Wednesday that the current outbreak had already killed more than 2,000 people among over 4,300 reported cases. He warned that the outbreak is advancing faster than health authorities can contain it.
“At its current pace, it’s on track to eclipse the West African Ebola outbreak of 2014 to 2016,” Tedros told reporters.
The West African epidemic, which affected countries including Guinea, Liberia and Sierra Leone, recorded at least 28,000 cases and took about eight months to reach 1,000 deaths. The speed of the current outbreak has raised serious concerns among health officials and international agencies.
The Congo outbreak was officially declared on May 15, but genetic sequencing later showed that the virus had been circulating since February. This earlier start has complicated efforts to trace infections and establish effective control measures.
The outbreak is concentrated in eastern Congo, where conflict, poor infrastructure and limited healthcare capacity have made the response more difficult. The affected region lies close to the borders with South Sudan, Uganda and Rwanda.
Many new cases and deaths are being recorded in communities that are difficult for health workers to reach. Medical facilities in some areas lack equipment and resources, while some health workers have reportedly stopped working because of unpaid wages.
Misinformation has also created obstacles. Health officials say some communities remain suspicious of outsiders and are reluctant to visit clinics, making it harder to identify cases and prevent further transmission.
“The outbreak had a big head start, still way ahead of us, and we’re playing catch-up,” Tedros said.
Dr Abdirahman Mahamud, WHO director for health emergency alert and response operations, said the agency expects the outbreak to reach its peak within six months under a moderate scenario. He warned that the outbreak could continue for nine to 12 months under a more severe scenario.
The outbreak is caused by the Bundibugyo virus, a rare Ebola strain for which no approved vaccine or treatment is currently available. Clinical trials of two potential treatments began last month in Ituri, the province reporting the highest number of cases.
News
DNA Traces Found on Explosive Drone Near Ukrainian Aircraft in Germany
News
Senate Confirms Trump’s Former Lawyer Todd Blanche as US Attorney General
-
Entertainment2 years agoMeta Acquires Tilda Swinton VR Doc ‘Impulse: Playing With Reality’
-
Sports2 years agoChina’s Historic Olympic Victory Sparks National Pride Amid Controversy
-
Business2 years agoSaudi Arabia’s Model for Sustainable Aviation Practices
-
Business2 years agoRecent Developments in Small Business Taxes
-
Home Improvement2 years agoEffective Drain Cleaning: A Key to a Healthy Plumbing System
-
Politics2 years agoWho was Ebrahim Raisi and his status in Iranian Politics?
-
Sports2 years agoKeely Hodgkinson Wins Britain’s First Athletics Gold at Paris Olympics in 800m
-
Business2 years agoCarrectly: Revolutionizing Car Care in Chicago
