ECB Warns Digital Euro Delays Could Put 2029 Launch at Risk

European Central Bank Executive Board member Piero Cipollone urged European Union negotiators to agree on digital euro legislation by the end of 2026 to keep a possible 2029 launch on schedule.

Speaking Tuesday to the European Parliament’s Committee on Economic and Monetary Affairs, Cipollone said approval of the regulation would provide the ECB with the legal certainty needed to complete its preparations. The legislation is part of the EU’s Single Currency Package.

“A delay in adoption could instead postpone the introduction of the digital euro,” Cipollone warned. He added that a later launch could increase Europe’s reliance on payment providers based outside the region and make it harder for European companies to compete.

The ECB aims to be ready for a possible first issuance in 2029 if EU lawmakers adopt the regulation by the end of 2026. The ECB’s Governing Council will decide whether and when to issue the digital euro after the legislation is approved.

The European Parliament’s Committee on Economic and Monetary Affairs approved its position on the legislation in June by 43 votes to 14. Parliament adopted its negotiating position in July, clearing the way for talks with EU member states.

The ECB is preparing a 12-month pilot scheduled to begin in the second half of 2027. Payment providers and selected merchants will test a beta version of the digital euro during the program.

The project coincides with a planned change in ECB leadership. President Christine Lagarde announced in October that she would leave office on Feb. 7, 2027, before the pilot is scheduled to begin.

Reviewed and fact-checked by Alex Panasenko on November 11.