If the European Central Bank (ECB) creates a digital euro, it should only complement but not replace traditional cash, said ECB president Christine Lagarde at the Franco-German Parliamentary Assembly on Sept 21. "We are also exploring the benefits, risks and operational challenges of introducing a digital euro," Lagarde said, in her speech, adding, "A digital euro could be a complement to, not a substitute for, cash. It could provide an alternative to private digital currencies and ensure that sovereign money remains at the core of European payment systems."