Dáil Éireann Debate, Thursday - 18 December 2025
215. Deputy Malcolm Byrne asked the Tánaiste and Minister for Finance the preparations being made for the introduction of a digital euro; if he intends an information campaign on the project; and if he will make a statement on the matter. [69522/25]
View answerThe digital euro is a strategic investment for the future of European payments. The digital euro will offer a free and reliable digital payment system for consumers, operating seamlessly across the euro area, even in the event of critical infrastructure outages, whilst offering high inclusivity and privacy levels.
On 28 June 2023, the European Commission put forward a proposal on the establishment of the digital euro. Work on the regulation is currently following the normal legislative process through the European Council and the European Parliament. The legislation is still under negotiation at the first step of the process whereby the Council and the European Parliament separately agree their general approaches.
The Governing Council of the European Central Bank has recently decided to move to the next phase of the digital euro project, technical readiness. This decision follows the successful completion of the preparation phase, launched by the Eurosystem in November 2023, and preceded by its investigation phase which laid the foundations for issuing a digital euro.
It should be noted that the launch of the technical readiness phase does not represent a decision to issue a digital euro; the ECB Governing Council can only make such a decision once the European Parliament and Council formally adopt the regulation.
I have been informed by the Central Bank that it is undertaking extensive work on Ireland’s preparedness for the potential introduction of a digital euro. As part of this work, the Central Bank maintains ongoing dialogue with critical stakeholders; including Government departments, merchant and consumer representative bodies and representatives from the Irish Banking and Financial Services sector. Ireland, similar to other euro area countries, can expect to see an increased public information campaign.
The objective of the Central Bank’s engagement is to inform, listen, and build dialogue with key stakeholders to understand impacts and opportunities, ensuring the design and potential implementation of the digital euro meets the needs and expectations of citizens.
