In a statement about the digital euro yesterday, the Eurogroup said it does not support a potential digital euro being programmable money. The Eurogroup is made up of the Finance Ministers of European countries that have adopted the euro as currency.
It clarified its definition of programmable money as having restrictions on what the money can be spent on or time limits on when the digital currency can be used. However, it’s happy with users being able to make payments automatically when certain conditions are met.
The statement says the “digital euro should at all times and throughout the euro area be convertible at par with other forms of the euro, such as banknotes and commercial bank deposits. The digital euro therefore cannot be a programmable money.”
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