Christine Lagarde – President of the European Central Bank – is facing a sensitive period as personnel matters and the digital euro roadmap are simultaneously entering a critical phase.
According to the Financial Times, Ms. Lagarde is believed to potentially leave her position before the end of her term in October 2027, with the timeline related to the French presidential election in April 2027. However, the European Central Bank has confirmed that she has not made any decisions and remains committed to completing her term.
This development occurs alongside the digital euro project moving into the next phase. The European Central Bank announced it will publish a call for expressions of interest for payment service providers in March 2026, expected to last about six weeks. The pilot phase could begin in the second half of 2027 and last 12 months, with real transactions conducted in a controlled environment.
The agency estimates the total development cost of the digital euro at approximately 1.3 billion euros, with annual operating costs around 320 million euros starting from 2029. Meanwhile, the current euro banknote circulation is about 1.6 trillion euros (as of January 2026), and the euro M2 money supply reached approximately 16.07 trillion euros (December 2025).
The European Central Bank states that the potential issuance readiness target by 2029 depends on the passage of relevant legislation in 2026. If the legislative process slows down, the deployment date could be pushed back to 2030.
In the context of deposit interest rates remaining at 2.00% and inflation decreasing to 1.7% in January 2026, the leadership transition story may mainly impact messaging and communication strategies rather than cause sudden policy changes.
The intersection of the “leadership clock” and the “project clock” is creating a significant turning point as Europe shapes the future of digital payments and the role of digital assets within the regional financial system.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Analysis: De-globalization and AI reshaping the macro environment, with crypto assets being sold off as high-beta growth assets
The current market is undergoing a structural reshaping driven by de-globalization and artificial intelligence, resulting in slow trading adjustments. Bitcoin and Ethereum prices are struggling to rebound, indicating a lack of market confidence. Capital is flowing into value sectors, technology stocks are underperforming, and crypto assets are being sold off, facing a critical transition ahead.
GateNewsBot1h ago
The stablecoin legislation is about to be implemented, and mainstream CEX stablecoin revenue could surge up to 7 times
February 24 News, as the United States advances its stablecoin regulatory framework, the "Genius Act" is being viewed by the market as a key policy to reshape the stablecoin industry landscape. Analysts point out that under the push of this act, the stablecoin-related revenue of the United States' largest compliant CEX is expected to grow by 2 to 7 times, and some institutions interpret this as a potential long-term "tenfold" growth logic, making it one of the important narratives in the crypto market by 2026.
The act was signed by Trump, with the core goal of establishing a clear compliance system for U.S. stablecoins, including requirements for issuers to hold high-quality liquid assets such as U.S. Treasury bonds in a 1:1 ratio as reserves, and strengthening anti-money laundering and regulatory transparency. This institutional design will significantly reduce compliance uncertainties for stablecoins, increase institutional funding willingness, and promote the expansion of regulated stablecoins in payments, settlements, and on-chain finance.
GateNewsBot1h ago
Federal Reserve plans to eliminate the "Reputation Risk" rule: restrictions on bank accounts for crypto companies may see significant easing
February 24 News, the Federal Reserve announced the launch of a 60-day public consultation, planning to remove the key assessment indicator of "reputational risk" from the banking regulatory framework. This move is seen by the market as an important signal to improve the banking service environment for cryptocurrency companies. If the proposal is approved, banks will no longer face additional regulatory pressure due to subjective reputational concerns when providing accounts and settlement services to digital asset companies, thereby alleviating the long-standing "debanking" issue from an institutional level.
GateNewsBot1h ago
Is the Yen's rebound hopeless? Sanae Takaichi persuades Kazuo Ueda "not to raise interest rates," BOJ may hold steady in March
Japanese Prime Minister Fumio Kishida recently met with Bank of Japan Governor Kazuo Ueda to express concerns about further interest rate hikes, leading to a weakening of the yen. If Kishida's stance is accurate, it will complicate the Bank of Japan's interest rate hike plans. Market reactions will influence global risk assets, especially the cryptocurrency market trends.
動區BlockTempo1h ago
Bitunix Analyst: US and Japan May Be Planning Joint Intervention, Rate Cut Expectations Fluctuate Again
Market focus shifts to exchange rates and interest rates. The U.S. Treasury Department has proactively initiated a "currency check" to support the yen, possibly related to uncertainties before the Japanese general election. Meanwhile, divergence in Federal Reserve policy paths and labor market performance will influence rate cut expectations. In the crypto market, BTC prices fluctuate, and attention should be paid to how the macro environment affects liquidity flows.
GateNewsBot2h ago
From the new RWA policy, observe the internal and external circulation of Digital RMB 2.0
The article discusses the significant upgrades in Digital RMB 2.0, transforming it into a deposit currency with interest accrual, while also granting commercial banks operating rights. Policy developments leave room for the tokenization of real-world assets, promoting the application of Digital RMB in both domestic and international circulation. The domestic cycle emphasizes on-chain trading of financial assets, while the international cycle focuses on Hong Kong becoming a core market for Digital RMB, fostering the internationalization of the RMB and the development of stablecoins, laying the foundation for future circulation of Digital RMB.
TechubNews3h ago
