In my brief remarks, I should like, first, to talk about the very recent event that was of particular significance, namely the euro cash changeover, i.e. the introduction of the new euro notes and coins, and discuss the international role of the euro. Second, I should like to elaborate on the institutional set-up of the European Central Bank (ECB) and its objectives.
Finally, I will share with you some views on the experience we have gained with the single monetary policy so far and on the challenges ahead. The euro cash changeover and the role of the euro Since 1 January this year, more than 300 million citizens in Europe have shared the same tangible currency.