The European Parliament voted on July 7 to open negotiations on a legal framework for a digital euro, clearing a key legislative hurdle for the proposed central bank currency.
Lawmakers in Strasbourg approved the mandate with 416 votes in favour, 169 against and 22 abstentions, overcoming objections from the ECR and PfE groups who had challenged an earlier committee decision. Fernando Navarrete Rojas of the EPP will lead the Parliament's negotiating team into talks with the Irish presidency of the EU Council, with the first round expected mid-month.
The digital euro is designed to complement cash, stored in an app and withdrawable like physical currency. The European Central Bank targets a 2029 launch following a pilot project planned for 2027, though the final regulatory framework remains subject to the upcoming inter-institutional negotiations.