Outside Source
Stefan Berger, a key figure in the European Parliament’s digital euro discussions, has stepped aside to pave the way for progress without controversy.
The man leading Parliament’s work on the digital euro, who became one of its biggest critics, has quit to stop claims he was delaying the project on purpose, POLITICO has learned.
Berger, a veteran German lawmaker from the center-right European People’s Party, announced his decision to POLITICO, stating that “it’s time for someone [who] is not coming from Germany and is not under suspicion that he wants to delay the talks.” Markus Ferber, who oversees economic issues for the EPP, will choose Berger’s replacement within a week, the report notes.
The digital euro, planned as a virtual version of euro coins and notes, aims to improve payments in the eurozone and reduce dependence on foreign companies like Visa and Mastercard. But it has faced pushback, especially from German banks and citizens worried about its design and financial risks. Berger also raised concerns that it could lead to sudden withdrawals, hurting smaller banks.
Although Berger helped create MiCA, which will make the EU the first major region with clear crypto rules, he has faced challenges getting similar support for the digital euro. While MiCA gave crypto firms clear rules across the EU, the digital euro has been met with concerns about privacy and its technical details.
Berger had proposed a gradual approach, starting with wholesale transactions for the digital euro. However, critics claimed he missed deadlines and slowed progress, leading rival lawmakers to call for his removal earlier this year.
The European Central Bank is currently testing the digital euro’s feasibility, with plans for a pilot program in the coming years. Earlier in December, in a digital euro progress report, the regulator implied that it might drop offline digital euro payments if it can’t agree with smartphone makers on secure chip integration.
This article first appeared at crypto.news
