Money Talks: How the Digital Euro Redefines Payments and Information in the Modern Economy

In this paper we explore the intersection between payments and monetary symbolism in the context of the digital euro. We argue that the digital euro embeds normative values that align with the history and identity of the euro. The analysis draws a parallel between ancient coinage, particularly Roman economic history and numismatics, and the role of information and symbolism in modern digital currency systems. Since information flows in many forms, Roman coins conveyed not just value but messages of imperial legitimacy and cultural unity. Similarly, euro banknotes communicate ideals of trust, inclusion, and economic pluralism. In this context, we will seek to identify the messages conveyed by the digital euro and compare them with the current means of payment to which the digital euro aims to be complementary, cash. As for the current EU legislation, we will explore whether current and proposed legislation on payments are compatible with the messages conveyed by the future digital currency of the Eurosystem to understand whether they reinforce the character of the digital euro as a public good, grounded in the principles of fairness, openness, and resilience. We situate this analysis within broader debates on the constitutionalism and semiotics of money, proposing that law plays an active role in shaping not only the functionality but also the meaning of a currency. In bringing forward a retail central bank digital currency, the ECB is not simply digitising money, but it is engaged in minting a new narrative of what it means to belong to a shared European monetary space.