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“Digital Euro Must Not Exclude the North” – Chris MacManus MEP

18 November, 2021 - by Chris MacManus MEP

“Digital Euro Must Not Exclude the North” – Chris MacManus MEP

Sinn Féin MEP Chris MacManus has once again challenged the ECB to ensure that its planned ‘Digital Euro’ does not exclude people living in the north of Ireland. MacManus again raised the issue with the ECB’s Executive Board member Fabio Panetta at today’s meeting of the European Parliament’s Economic and Monetary Affairs Committee in Brussels.

MacManus said:

“It is clear that the ECB is pushing ahead with its plan to roll out a Digital Euro for everyday use. Today Mr. Panetta told MEPs that a prototype could be ready as early as 2023. I pushed him once more to take into the account the unique circumstances of the north of Ireland in the ECB’s planning, something he said he is doing, and that he is considering the north’s “peculiar situation”.

The Midlands Northwest MEP said a currency of partition must be avoided. “One of the main issues the ECB is considering is whether people living outside the Eurozone can hold Digital Euro and if so to what extent. It is imperative that for people living on the island of Ireland we do not have another currency of partition. Under the Irish Protocol the north remains in the single market for goods. It is important for business and everyday life that if the Euro adds a digital element that the entire island can use it.”

I believe Mr. Panetta and the ECB have heard my call to take a hard look at this matter. 

Further, I was glad to hear again today strong confirmation that the Digital Euro will not replace cash which will continue to be used as before alongside the Digital Euro.” ENDS

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