Bundesbank survey: Germans divided over digital euro

According to a new Bundesbank survey, Germans are divided on the digital euro. The ECB's CBDC project polarizes opinions.

A new Bundesbank poll shows that the digital euro continues to divide opinion in Germany. Only half of Germans said they could envision a digital central bank currency (CBDC).

The polling firm surveyed 2,012 people in April 2024 on behalf of the Deutsche Bundesbank. The survey assumed that cash would remain and that the digital euro would be introduced only as an additional option. A quarter of respondents said they would "certainly no" would use the digital euro, while about the same number said they would "probably no" would use central bank money. Thus, the CBDC project remains controversial. According to the survey, only 41 percent of respondents had ever heard, read or seen anything about the digital euro. By contrast, 59 percent were not aware of it at all.

The political mandate to make the digital euro a reality is still lacking, but the launch of a CBDC in the eurozone is becoming increasingly likely.

"Eurosystem central banks have no interest in users' data", said Bundesbank President Joachim Nagel.

The ECB itself states that the digital euro can be used offline and that transaction data "be known only to the payer and payee."