EU lawmakers raised concerns about the digital euro project after a major failure in the ECB’s payment system, Target 2, which caused delays in transactions. Critics question the ECB's ability to manage the project, with some demanding improved systems before moving forward.
EU Lawmakers Raise Concerns Over Digital Euro After ECB Payment System Failure
The European Central Bank (ECB) faces renewed scrutiny over its digital euro initiative following a significant outage in its Target 2 (T2) payment system, which caused delays in transactions for thousands of households and traders. The breakdown, which occurred late last month, highlighted issues with the ECB's ability to manage critical infrastructure after an initial misdiagnosis delayed the resolution.
Several lawmakers, including Markus Ferber from the European People's Party, expressed concerns about the ECB’s credibility, questioning whether it could successfully manage the digital euro project. “How can the ECB run a digital euro when it struggles to keep daily operations running smoothly?” Ferber remarked.
Despite assurances that the digital euro would function similarly to the ECB's more reliable instant payment system, TIPS, lawmakers remain cautious. They stress that the ECB must restore public trust to avoid jeopardizing the project’s success. Some, like Rasmus Andresen of the Greens, emphasized the importance of improving the bank’s systems. The European Commission proposed digital euro legislation in 2023, but progress has stalled, with resistance from both lawmakers and bankers, who worry about the impact on traditional financial institutions.
Tensions in the region remained high on Tuesday (10 March), as the United States and Iran exchanged increasingly sharp warnings, including thr...
Iran and the U.S. exchanged threats on Tuesday, as U.S. Defense Secretary Pete Hegseth warned Tehran to expect the&nb...
Up to 30 tonnes of food will be delivered to Iran amidst ongoing hostilities with U.S. and Israel, following a phone converstation between the ...
The Strait of Hormuz has become a focal point of global concern as tensions rise following the conflict involving Iran, the United States and Israe...
Reports of so-called “acid clouds” moving from Iran towards Central Asia are not supported by scientif...
Tensions in the region remained high on Tuesday (10 March), as the United States and Iran exchanged increasingly sharp warnings, including threats over the strategic Strait of Hormuz, a critical artery for global oil supplies.
Iran and the U.S. exchanged threats on Tuesday, as U.S. Defense Secretary Pete Hegseth warned Tehran to expect the “most intense day" of attacks so far. Meanwhile, Iranian President Masoud Pezeshkian said “anyone who entertains the illusion of destroying Iran knows nothing of history."
The Strait of Hormuz has become a focal point of global concern as tensions rise following the conflict involving Iran, the United States and Israel. Tehran has threatened to block the strategic waterway, raising fears of disruption to global oil shipments and energy markets.
Reports of so-called “acid clouds” moving from Iran towards Central Asia are not supported by scientific data, national hydrometeorological services in Kazakhstan, Uzbekistan and Kyrgyzstan say, adding there is no threat to the region.
Tensions in the region remained high on Tuesday (10 March), as the United States and Iran exchanged increasingly sharp warnings, including threats over the strategic Strait of Hormuz, a critical artery for global oil supplies.
Global oil prices surpassed $119 a barrel on Monday (9 March, 2026), an almost four year high, as the Middle East conflict rumbled on.
China has urged Afghanistan and Pakistan to resolve their dispute through dialogue after Chinese envoy Yue Xiaoyong met Afghan Foreign Minister Amir Khan Muttaqi, as fighting between the two neighbours entered its eleventh day.
Entry and exit across the state border between Azerbaijan and Iran for all types of cargo vehicles, including those in transit, will resume on 9 March, according to a statement by the Cabinet of Ministers of Azerbaijan.
Iran named Mojtaba Khamenei to succeed his father Ali Khamenei as supreme leader on Monday (9 March), signaling that hardliners remain firmly in charge, as the week-old U.S.-Israeli war with Iran pushed oil above $100 a barrel.
China has raised the retail prices of petrol and diesel after global oil prices climbed sharply. The country’s top economic planning body, the National Development and Reform Commission (NDRC), announced the move after reviewing international oil market trends.
Global financial markets remained on edge on Friday as the escalating war involving the United States, Israel and Iran continued to rattle investors, fuelling volatility in stocks and sending energy prices sharply higher.
China’s top leadership has unveiled a new push to turn advanced technologies into large-scale industrial priorities as part of the country’s upcoming 15th Five-Year Plan, which will guide economic and social development from 2026 to 2030.
The European Commission sees no immediate impact on the European Union's security of oil supply from the escalating conflict in the Middle East, it said in an email to EU governments, seen by Reuters on Monday (2 March).
Paramount Skydance emerged as the winner in a months-long battle to acquire Warner Bros Discovery after streaming giant Netflix on Thursday refused to raise its bid for the storied Hollywood studio.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment