European Monetary Sovereignty in the Digital Age

This paper investigates how monetary sovereignty will be transformed in the digital era, and what this transformation means for the European Union's position vis-à-vis the United States and China. Through a conceptual and comparative lens, the paper explores the structural factors that shape Europe’s monetary sovereignty, from market-based vulnerabilities to reliance on foreign infrastructure to the possibility of creating deeper fiscal integration in the Union. It pays particular attention to the EU’s capacity to project monetary influence internationally and considers whether initiatives like the digital euro can serve as levers of strategic autonomy.