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#CBDC Italian economist and Member of the Executive Board of the ECB, Fabio Panetta addressed the European Parliament via a Frankfurt Am Main video conference on July 7—where he spoke on the Euro’s untapped global potential, citing the necessity to stay ahead of the pack in terms of CBDC development.

Euro’s role in the Global Markets

Referencing the findings of the 19th annual review of the international role of the euro, Panetta highlighted to the ECB members that although the euro has been one of the most profound changes to the international monetary system since the collapse of the Bretton Woods System, the euro’s share in international currency sits at around 19% which is lower than the approximate 50% share of the US dollar, but well ahead of any other currency.