As many of you know, I have had the opportunity to work and contribute to the Eurosystem activities from both sides: from the perspective of a NCB, as a former Board Member of the Oesterreichische Nationalbank, and from that of the ECB, in my current position.
Therefore, it is a particular pleasure to speak today about the achievement of EMU and the role of the NCBs in the success of European monetary policy over the last 10 years. 1. The main achievements of EMU  The introduction of the euro has undoubtedly been one of the most important steps towards European integration.