In Episode 24 of Business Diplomacy Today, host Matthias Catón is joined by Karel Lannoo, CEO of the Centre for European Policy Studies (CEPS). In their discussion, Matthias and Karel dive into the complexities of implementing a digital currency and its impact on the financial landscape; in this episode, specifically on the case of the Eurozone and the Digital Euro.
Covering an array of compelling topics, Matthias and Karel discuss the motivations of central banks to embrace digital currencies and the evolving landscape of digital payments. Karel shares thought-provoking arguments on the privacy concerns of implementing a digital Euro; as well as potential disruptions in the financial sector and the ramifications the digital Euro could have on monetary policy.
One motivation of implementing a digital Euro is led by the desire to make the Euro a more significant global currency, Matthias and Karel, thus, look at the geopolitical landscape and financial significance of the Dollar and monetary policies in China and India.
At the intersection of finance, technology and geopolitics, this episode is a must-listen for policymakers and business leaders to further understand and analyse the viability of implementing a digital Euro on national, regional and international levels.
About the guest
Karel Lannoo has been CEO of the Centre for European Policy Studies (CEPS) since 2000. He specialises in financial regulation, European economic governance and single market issues. His recent publications cover the EU healthcare sector policy, anti-money laundering, Russian financial sanctions, crypto-currency regulation and Europe’s geopolitical role.
He has published several books on capital markets, MiFID, and the financial crisis, the most recent of which is “The Great Financial Plumbing, From Northern Rock to Banking Union” (2015). In October 2023 he co-authored the publication “A Digital Euro Beyond Impulse: Think Twice, Act, One”, a study highlighting the importance of value proposition and benefits to consumers and merchants in the EU with the adoption of the digital Euro.
Karel holds a Baccalaureate in Philosophy (1984) and an MA in history (1985) from the University of Leuven, Belgium and obtained a Postgraduate Degree in European Studies (CEE) from the University of Nancy, France (1986).
Executive Briefing – what you should read now
- Thomadakis, A., Lannoo, K., Shamsfakhr, F. (2023) A Digital Euro Beyond Impulse: Think Twice, Act Once. Centre for European Policy Studies
- European Parliament (2023) Digital Euro’s Legal Framework
- Eichengreen, B. (2023) ‘CBDCs still have not found their raison d’être’ Financial Times
- House of Lords (2023) Central bank digital currencies: Lords Economic Affairs Committee Report
- The White House (Sept 2022) Policy Objectives for a U.S. Central Bank Digital Currency System
- Swiss Central Bank (Mar 2021) How to Issue a Central Bank Digital Currency