EU bets on digital euro to cut US tech addiction

The EU is pushing forward with the development of a digital euro to reduce reliance on U.S. tech giants like Visa and Mastercard, which have previously shown how their dominance can lead to punitive actions against European officials. This initiative is crucial as it aims to reclaim economic sovereignty and lessen the geopolitical influence of U.S. tech companies, especially in light of recent sanctions that caused significant inconvenience for European citizens and officials. By creating its own digital currency, the EU seeks to challenge the current financial order dominated by U.S. technology.