by Piero Cipollone and Valdis Dombrovskis. The ECB plans to prepare for the potential issuance of the digital euro by 2029, assuming the European co-legislators adopt the necessary regulation by 2026. Preparatory steps, including pilot exercises and initial transactions, could begin as early as mid-2027. From barter to coins to banknotes to cards, the payment systems Europeans have relied on have never stopped evolving. Throughout history, innovations have made these systems increasingly sophisticated, efficient and convenient. Today, technology is transforming our...

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The EU and Canada reinforced their cooperation and reaffirmed shared interests to boost competitiveness, innovation and economic resilience during the first Digital Partnership Council held today in Montreal, Canada. The Council took place back-to-back with the G7 Industry, Digital and Technology Ministerial meeting, hosted by Canada. Both the EU and Canada have launched strategies to strengthen their competitiveness and digital sovereignty and reiterated the importance of supporting companies, especially small and medium-sized (SMEs), with smart regulations. Co-chaired by Executive Vice-President of...

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Blog post | Governments across both advanced and emerging market economies have increasingly rolled out new support for targeted companies and industries over the past decade and a half. Industrial policy, as it’s known, is used for a range of goals, including to boost productivity growth, protect manufacturing jobs, improve self-dependence and the resilience of supply chains, and develop “infant” industries to diversify the economy. In the energy sector, for example, some countries have used industrial policy to reduce dependence...

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