Bank skepticism and FPÖ criticism challenge EU digital euro pilot

The European Central Bank is proceeding with a digital euro pilot involving 36 payment‑service providers across the euro area. Austrian banks Raiffeisen Bank International (RBI) and BAWAG have been selected to take part in a test that will begin in the second half of 2027 and run for twelve months, aiming to assess technical and operational aspects of a central bank‑issued digital currency.

RBI has publicly maintained a “fundamentally skeptical” stance, questioning the added value of the digital euro. FPÖ economic spokesperson Barbara Kolm echoed this doubt, arguing that the EU has not convincingly explained what problem the digital euro solves and warning that a state‑run payment system could lead to greater centralisation, surveillance and political interference in European payments. Kolm called for more competition and private European solutions, noting that the United States has halted its own digital‑dollar project.