In this episode of The We Are Innovation Podcast, host Federico N. Fernández engaged in an illuminating discussion with Leonardas Marcinkevičius about the controversial Digital Euro project and its implications for European monetary policy.
Marcinkevičius, an expert at the Lithuanian Free Market Institute (LFMI) specializing in monetary policy, inflation, and public finance, shared insights from the recently published Epicenter report “Digital Euro: Is a CBDC Really Necessary for Europeans?”
The conversation delved into crucial aspects of the European Central Bank’s Digital Euro. Marcinkevičius examined how this new form of currency would transform the existing dual system of commercial and central bank money, while addressing concerns about the proposed free-of-charge Digital Euro accounts and their impact on financial institutions.
Drawing from real-world examples like the Nigeria eNaira’s low adoption rate, the discussion explored potential challenges and differences in the European context. The episode also tackled critical security considerations, highlighting previous ECB system breaches and the implications of centralizing digital currency infrastructure.
Particularly noteworthy was the analysis of the Digital Euro’s role in monetary policy, especially its relationship with inflation targets and the controversial mandatory acceptance requirement for merchants. The conversation concluded with a thorough examination of the metrics needed to properly evaluate this significant shift in European monetary policy.
Our Guest:
Leonardas Marcinkevičius (LTU) is an expert at the Lithuanian Free Market Institute (LFMI), focusing on monetary policy, inflation, and public finance. Since October 2022, he has provided in-depth analyses of central bank decisions and economic policy developments. Before joining LFMI, Marcinkevičius worked as a business journalist at Lithuania News Agency ELTA, covering economic issues from March 2021 to October 2022. He is a regular contributor to public debates on monetary policy and economic freedom in Lithuanian media.
Links and further reading:
Digital Euro: Is a CBDC Really Necessary for Europeans?
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We Are Innovation is a dynamic network of individuals and institutions who deeply believe in innovation’s power to drive progress and solve the world’s most pressing problems. With over 40 think tanks, foundations and NGOs based worldwide, We Are Innovation represents the diverse voices of a global civil society committed to advancing human creativity, adopting new technologies, and promoting innovative solutions. Through our collaborative approach and cutting-edge expertise, we are driving global transformative change. To learn more about our work, visit us at https://weareinnovation.global/.
