Deutsche Bundesbank President Joachim Nagel said EU central banks have not reached a consensus on the limits within which private consumers will be allowed to own the digital euro.

As Joachim Nagel noted, economists at the European Central Bank (ECB) have suggested that the limit on holding digital euros for EU citizens could be set at 3,000 euros. According to analysts, this will be enough to successfully counter the risks of banking liquidity in the Eurozone even in extremely pessimistic scenarios. However, the head of the German Central Bank did not agree with the ECB’s conclusions and said that the optimal amount could be in the range from 1,500 to 2,500 euros.

“We are closely monitoring what the optimal amount of limits on digital euro ownership will be. If citizens choose to keep their money in digital euros, this will lead to an increase in the influence of the ECB in the financial system of the European Union, and may also impair the ability of national central banks to manage their own monetary policy,” commented Deutsche Bundesbank.

According to Nagel, lowering the limits on ownership of the digital euro will encourage EU citizens to actively spend digital currency rather than accumulate it. In addition, while introducing fixed limits on the total volume of EU digital currency issuance, reducing the limits will ensure equal access to the digital euro for more citizens, especially for those who do not have bank accounts or have limited access to them.

Previously, a study by Deutsche Bundesbank showed that the bulk of the country’s citizens are “open to the idea of ​​a digital euro,” but they fear that the use of a state digital currency will lead to an invasion of their privacy.