Why the ECB Thinks Banks Can’t Survive Without the Digital Euro

What: The European Central Bank (ECB) believes banks need the digital euro to remain competitive.
Why: ECB Executive Board member Piero Cipollone and Supervisory Board Vice-Chair Frank Elderson argue that the digital euro is a strategic lifeline against big tech payment firms and stablecoins.
Signal: The ECB is signaling that banks cannot survive without the digital euro in the long term.
Target: The digital euro aims to target a market share of **30%** of all retail payments in the European Union by **2028**.
Risk: The ECB warns that if banks do not adapt to the digital euro, they risk being left behind by big tech payment firms.