EU lawmakers have voted to back plans for a digital euro, a project aimed at strengthening the bloc's financial sovereignty and reducing reliance on foreign payment systems. This move follows previous support from EU countries in December, adding pressure on lawmakers for formal approval.

• The proposal received support from 438 lawmakers, with 158 against, in a vote on amendments to the European Central Bank's (ECB) annual report.
• ECB chief Christine Lagarde emphasized that the digital euro is designed to be built on an "fully European infrastructure" and will "not replace cash."
• The electronic currency would be available for free use in various transactions, aiming to reduce fragmentation in retail payments across the 21-nation currency area.