European Parliament Backs ECB Digital Euro Plan with 443-71 Vote

The European Parliament endorsed the European Central Bank's digital euro initiative with 443 votes in favor, 71 against and 117 abstentions in a plenary vote on the ECB's annual report. Lawmakers framed the digital euro as a tool to strengthen EU monetary sovereignty and reduce reliance on non-EU payment providers, while emphasizing that the ECB's independence must remain protected from political interference to preserve price stability. The resolution affirms that both physical and digital euros would be designated as legal tender, with cash remaining a core element of the euro area's monetary system. ECB executive board member Piero Cipollone and other economists have described the digital euro as "public money in digital form" and a sovereign, EU-controlled payments option designed to enhance resilience and consumer protection.