Euro Under Pressure as Italy Flags Dollar Stablecoins as Economic Risk

Italian Economy Minister Giancarlo Giorgetti warned that dollar-based stablecoins threaten the euro’s dominance more than trade disputes, citing their growing appeal for cross-border payments and savings.

Speaking in Milan, he urged the EU to act swiftly to defend the euro’s role, as U.S. stablecoin policies gain global traction. Giorgetti highlighted the convenience of dollar-pegged stablecoins, which don’t require U.S. bank accounts, making them attractive even to eurozone citizens. He stressed the need for a strong digital euro to counter this trend, despite pushback from European banks worried about deposit outflows and profit impact.

Clever Robot News Desk 17^th April 2025