Reclaim The Net Lagarde frames democracy as a speed bump on the road to a cashless future.
European Central Bank President Christine Lagarde has expressed clear frustration with democratic processes that she believes are obstructing her efforts to introduce a central bank digital currency.
Speaking at the Bank of Finland’s 4th International Monetary Policy Conference, Lagarde characterized the digital euro’s delay not as a technical hurdle but as the result of slow-moving democratic systems.
Although she acknowledged that democracy is something Europeans “praise ourselves with,” she went on to describe it as “too much of a drag at a time when speed is really of the essence.”
She openly admitted that the legislative timeline has prevented her from completing the rollout of the digital euro within her term, stating, “Given the time that it takes… I will be gone.”
The digital euro project is still in its preparatory phase, with a decision expected soon on whether to proceed to pilot testing.
However, the European Central Bank has repeatedly said that a full launch is not guaranteed.
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