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Digital euro might suck away 8{98cae0078f524eff3ab8ec32cf55b261677ef6c8a6ed6e94d92a4234b93f46b6} of banks’ deposits -Morgan Stanley

LONDON, June 15 (Reuters) – A digital euro could suck away 8{98cae0078f524eff3ab8ec32cf55b261677ef6c8a6ed6e94d92a4234b93f46b6} of euro zone banks’ customer deposits, analysts at Morgan Stanley have estimated, although the share may be far higher in some of the smaller countries in the 19-nation bloc.

The European Central Bank is expected to speed up work on a digital euro in the coming months and although a formal launch could be a few years away, economists are looking at potential implications.

With 90{98cae0078f524eff3ab8ec32cf55b261677ef6c8a6ed6e94d92a4234b93f46b6} of the world’s central banks now working on digital currencies, a key question is whether they will cannibalise the money currently held

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