The surge in interest surrounding CBDCs is driven by various policy considerations, including their alleged function as instruments of social inclusion, with claims that they can improve financial inclusion by facilitating easier, more direct access to financial services. This chapter critically examines the “inclusiveness” premise, particularly within the European Union (EU), arguing that a CBDC like the digital euro is unlikely to serve as a meaningful tool for financial inclusion in this context. Given the relatively low levels of financial exclusion in the EU and the unique demographic challenges—such as an ageing population and issues tied to digital literacy—we contend that the digital euro may, in fact, exacerbate financial exclusion, especially among digitally disadvantaged groups. We posit that advancing the digital euro requires stronger justification beyond the inclusiveness argument to remain aligned with the European Central Bank’s (ECB) mandate.