Equally though, other policy areas need to be mindful – and be reminded – of their respective responsibilities for the stewardship of the euro. A sound institutional framework for the euro  Let me be perfectly clear: the Euro, the promise of a single and stable currency for Europe – from its inception – has been both a political and economic project.
With the establishment of the ECB fifteen years ago and the creation of the euro on 1 January 1999 monetary policy was centralised and safeguarding the euro’s stability was delegated to a strong and independent central bank. The ECB has delivered on its primary objective of price stability and will continue to do so.