What changed
The digital euro provisions are substantially changed: Parliament now demands a political decision by EU co-legislators before introduction, and the ECB must demonstrate benefits first. #8#9 The call on market neutrality is softened by noting it is an operational tool, not a legal requirement. #10 Other changes are formal: updated inflation figures and months, and a decimal separator correction. #1#2#3#4
3 changes of substance, plus 6 formaland1 wording-only. Each change below carries a one-line ✦ note from the same model. Written from the two texts only — read the highlighted passages before relying on it.
The changes to the text itself, in document order. Cover page, citations (“having regard to …”), standard resolution paragraphs and punctuation-only edits are left out — they are in “Show every difference”.
Change #8 Substance
Changes the stance on the digital euro: now notes progress instead of welcoming it, and requires the ECB to demonstrate benefits before EU co-legislators decide on introduction.
26. WelcomesNotes the ECB’s progress on the digital euro project and welcomes its ongoing dialogue with Parliament; underscores that theany digital euro should deliver clear added value to European citizens, including enhanced strategic autonomy in payments, a higher level of competition in the retail payment market, potential to foster innovation in payments and finance, improved financial inclusion and a reliable offline backup payment system; calls on the ECB to clearly communicatedemonstrate these benefits in order tobefore fosterthe publicEU trustco-legislators anddecide awareness;whether notesor thatnot theto EUintroduce co-legislatorsa willdigital needeuro tothat strikestrikes the right balance, among others, on holding limits, privacy concerns, competition with private payment solutions and usability in a business context;
Change #9 Substance
Replaces paragraph 27 with a demand that the decision to issue the digital euro be taken by EU co-legislators, not solely by the ECB; moves the information campaign paragraph to 28 and adds a new paragraph 29 on cash.
27. Considers that the digital euro will only become a success story if it provides tangible added value for European citizens that they can understand; notes that currently many European citizens either have not heard about the digital euro project or remain sceptical; invites the ECB, together with relevant stakeholders, to launch a broad information campaign on the digital euro in order to allay citizens’ concerns;
27. Demands that any decision to issue the digital euro should not be taken exclusively by the Governing Council of the ECB; considers, instead, that the decision on whether or not to introduce a digital euro is ultimately a political decision that has to be taken by the EU co-legislators, given the profound potential impact of such a decision on a wide range of EU domains, including privacy, consumer protection, financial stability, financial policy and other areas that go beyond the strict remit of monetary policy;
28. Reiterates that the digital euro will serve as complement to physical cash, that it should not replace cash and that cash will remain widely available and accessible at all times in order to ensure a plurality of means of payment; welcomes, in that context, the proposal for a regulation on the use of euro cash as legal tender;
28. Considers that the digital euro will only become a success story if it provides tangible added value for European citizens that they can understand; notes that currently many European citizens either have not heard about the digital euro project or remain sceptical;
29. Reiterates that cash should remain widely available and accessible at all times in order to ensure a plurality of means of payment; welcomes, in that context, the proposal for a regulation on the use of euro cash as legal tender;
Change #10 Substance
Changes the call on the ECB to respect market neutrality, adding that the ECB acknowledges it as an operational tool rather than a legal requirement.
36.37. InsistsCalls thaton the ECB to respect the market neutrality approach in its monetary operations;operations, while noting that the ECB acknowledges that market neutrality is an operational tool, rather than a legal requirement;