*  *  *  Dear Madam Chair, Dear Honourable Members, It is always a great pleasure to be here as President of the European Central Bank (ECB), before the directly elected representatives of the European people. This interaction is a cornerstone of our Economic and Monetary Union. Today, I appear before your committee with particular emotion.
This is the last of my 35 immensely fruitful dialogues with you. Members of the European Parliament, you are the heart of the living democracy in Europe. We at the ECB are the guardians of the currency of our fellow citizens. And we are fully independent in our actions to protect the currency whilst you ask us to report to you.