The European Union is advancing plans for a digital euro — a central bank-issued currency managed by the European Central Bank (ECB) — as part of a broader effort to reduce the continent's reliance on US-controlled payment infrastructure. The urgency of the project was underscored when judges at the International Criminal Court (ICC), sanctioned by Washington after the court issued an arrest warrant for Israeli Prime Minister Benjamin Netanyahu, found themselves unable to use their bank cards in Europe, where Visa and Mastercard dominate transactions. The initiative faces significant headwinds, however, as private banks worry about losing deposits and fee revenue to a public competitor, while the growing popularity of cryptocurrencies raises questions about whether a state-backed digital currency can win broad public trust.