It is a great honour and privilege for me. With the historical decision reached at last weekend’s European summit, we now know that a common monetary policy will become reality for eleven EU countries at the beginning of next year. A long, intense process - a process that has had its doubters and critics along the way - has now passed an important milestone.
Setting forth on this historical project was in itself a tremendous achievement, but the real challenges still lie ahead. The participating countries must now make this project succeed and achieve its intended objectives. The project must deliver unquestioned monetary stability and efficiency to the euro-area, and thereby provide a solid basis for growth and employment in Europe.