Nagel: In which situations can the inflation rate be considered excessively low?

Exploring the Digital Transformation of Money

Distinguished guests and students, it is a pleasure to return to my previous place of work and speak with you today. Our discussion centers on "The Digital Future of Money and the Economy." As a central banker, my primary concern is, of course, the evolution of money itself.

When considering what lies ahead for currency, my response is straightforward and familiar to many: the digital euro. But why pursue a digital euro? Two reasons stand out. Firstly, digital payments are becoming the norm for all of us. Secondly, recent events have highlighted the dangers of Europe relying too heavily on external parties, making us vulnerable in critical areas.