Like all central banks, the European Central Bank has had to manage many challenges and shocks, such as the Asian crisis, the bursting of the internet bubble, the oil and commodity price shock or the threats to the Stability and Growth Pact.
But I was always convinced that the euro is a success – and proof of the fact that the people of Europe are able to put into effect a historic plan that they have undertaken. Not all Europeans share your enthusiasm. According to some surveys, many Europeans are still critical of the euro.