On those occasions, Mr. Noyer outlined the importance of the process for the whole world, and reviewed relevant issues for countries outside the euro area. Today, I would like to dwell on the same topic – the euro. Let me begin by giving you an update of the euro cash changeover.
We were granted independence because independent central banks are better equipped to safeguard price stability than central banks that are controlled by the government. [17] Yet an active role in climate policy – or other ﬁelds of politics – could undermine our independence and, ultimately, jeopardise our ability to maintain price stability.