A majority of German financial sector professionals remain unconvinced that Europe needs a digital euro, according to a new survey published by the Center for Financial Studies, adding to growing evidence of industry caution as the project moves closer to key political decisions.
The survey, conducted by the Center for Financial Studies (CFS) and supported by Frankfurt Main Finance, finds that more than 60 percent of respondents do not see a clear need for a digital euro. Only around one-third believe a central bank digital currency would add meaningful value alongside existing electronic payment options.
Low expected user uptake is a central concern. Roughly two-thirds of respondents anticipate weak or very weak consumer acceptance, reflecting the widespread availability of cards, instant payments, and mobile wallets across Germany and the wider euro area. For many market participants, the survey suggests, the digital euro still lacks a compelling everyday use case.
Security risks also weigh heavily on sentiment. Nearly 70 percent of respondents rate the risk of cyberattacks on digital euro holdings as high or very high, while views on data protection are more divided. These concerns come despite repeated assurances from the European Central Bank that privacy and resilience are core design priorities.
The potential impact on banks is another flashpoint. More than 65 percent of respondents expect the digital euro to have a negative or very negative effect on bank profitability, citing high implementation costs and possible pressure on payment revenues. Estimates referenced in the survey put total system costs in the range of several billion euros.
CFS Managing Director Volker Brühl said the results point to persistent scepticism about both the design and likely adoption of the digital euro. Frankfurt Main Finance managing director Hubertus Väth warned that delivering tangible benefits will be critical if the project is to justify its costs.
The findings arrive as EU lawmakers continue negotiations on the digital euro regulation. While policymakers emphasise strategic goals such as monetary sovereignty and payment resilience, the survey underlines a clear gap between institutional ambition and current market confidence.