The digital euro project faces significant delays in the European Parliament. Spanish lawmaker Fernando Navarrete Rojas has formed a minority bloc, preventing agreement on key aspects of the draft legislation.
Brussels proposed a digital euro for both online and offline use. However, Navarrete is advocating for an offline-only model, a move seen as fundamentally altering the Commission's vision.
The stalemate highlights broader geopolitical tensions, particularly Europe's reliance on US-based payment giants Visa and Mastercard, which dominate card spending in the EU. The digital euro aims to provide an alternative, offering an electronic form of central bank cash accessible to citizens.
Supporters envision a digital wallet for untraceable online and offline payments. Critics argue the current compromise text risks undermining these core features. The impasse means the legislation cannot advance without a clear Parliament mandate.