The Normative Dimensions of the Digital Euro (DINO)

For several decades, we have been observing the increasing digitalisation of payment services and the dematerialisation of money. This development means far more than just a switch from an analogue to a digital medium, because unlike payments with cash, digital transactions rely on private infrastructures and can be tracked more easily. Digital central bank currencies such as the digital euro (which would take its place alongside cash) are part of the trend outlined above, but are also shaping it in a different way. With the introduction of the digital euro, a digital payment infrastructure would not be provided by private providers, but by a public institution – the ECB.

While the public debate on the digital euro has so far focussed primarily on technological and economic issues, the project group is broadening the perspective and looking at various normative aspects of the digital euro. Of particular importance in this respect are access to financial infrastructure, the balance of power in digital payment transactions and the potential risks to Europe’s monetary sovereignty. This creates a comprehensive picture of the diverse challenges and opportunities that would accompany the introduction of the digital euro.

The project partners are the Deutsche Bundesbank, G+D and Finance Watch.

Principal Investigators

Prof. Dr. Barbara Brandl, Goethe-Universität Frankfurt | spokesperson | more information
Prof. Dr. Andreas Kerkemeyer, Technische Universität Darmstadt | deputy | more information

Prof. Dr. Roland Broemel, Goethe-Universität Frankfurt | more information
Prof. Dr. Michael Grote, Frankfurt School of Finance & Management | more information
Prof. Dr. Alexander Meyer-Gohde, Goethe-Universität Frankfurt | more information
Prof. Dr. Sebastian Omlor, LL.M. (NYU), LL.M. Eur., Philipps-Universität Marburg | more information
Prof. Dr. Nils Urbach, Frankfurt University of Applied Sciences | more information

Claudia Bechstein, Claus George, Katharina Lawrence, Barbara Brandl and Heike Winter at the Panel for the digital euro — from left Claudia Bechstein, Claus George, Katharina Lawrence, Barbara Brandl, Heike Winter

ZEVEDI at the Digital-Gipfel

Digital Euro –
what can it do, what are the benefits?

Panel at the Digital-Gipfel 2024

The introduction of a digital version of cash was the focus of an intensive and constructive discussion. While the central banks in the Eurosystem are already preparing its introduction, the EU is working on the legal basis. The Governing Council of the ECB could only decide on the actual introduction of the digital euro once a legal framework has been adopted.

Barbara Brandl represented ZEVEDI in a lively discussion that highlighted the social implications of the topic and underlined the need for a well-founded discourse. Brandl was joined by Heike Winter from the German Bundesbank, Katharina Lawrence from the Hesse consumer advice centre and Claus George from DZ BANK AG. The discussion was moderated by Claudia Bechstein.

Data & monetary sovereignty

Workshop

20 November 2025, 09:00 – 15:30

Frankfurt University of Applied Sciences
House of Science and Transfer (HoST)
Building B, 2nd floor, Room 206
Hungener Straße 6

60389 Frankfurt a.M.

programme

Call for Abstracts

The Digital Euro – Which Ways Forward?

Conference

18–19 March 2026

Goethe University Frankfurt am Main

Anonymised abstracts (max. 500 words) can be sent to Dr. Guadelupe Moreno (moreno@em.uni-frankfurt.de) until 30 October 2025. After the application deadline, a decision will be made on the acceptance of abstracts. Successful applicants will be notified by the end of November 2025.

If you have any questions about this call for abstracts, please contact the two spokespersons for the project group – Prof. Dr. Barbara Brandl (brandl@soz.uni-frankfurt.de) and Prof. Dr. Andreas Kerkemeyer (andreas.kerkemeyer@tu.darmstadt.de).

to the CfA