Digital Euro and Legal Surroundings

Giacomo Bosi

Banca Impresa Società, 2022, issue 2, 219-250

Abstract: In this essay some critical issues, especially legal ones, are addressed regarding nature, genesis and legal tender of contemporary money, in the light of the recent debate on digital euro. More precisely, it is wondered what factors hinder the introduction of DE: a digital tool which, on the currency level, performs at least – and perhaps at the minimum – anchoring functions (technique useful to stem the multiplication of units of account; or, on the contrary, to introduce a further and autonomous unit of account) and, on the monetary level, is used for the application of passive rates or other solutions intended, in the limit, to discourage the non-productive accumulation of money. Moreover, it is evaluated whether this tool represents a sustainable viaticum for regaining the powers of government of the European currency, however avoiding to prefigure extreme scenarios of monetary sovereignty

Keywords: Digital Euro; Legal Tender; Unit of Account; Central Bank Digital Currencies; Digital Money; Monetary Law; Monetary Policy (search for similar items in EconPapers)
Date: 2022
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