The euro has rapidly achieved a well-recognised status worldwide as a stable anchor in turbulent times. Far from suppressing growth and entrenching divergences, the euro acts as a vital catalyst for change in the economic landscape of Europe. Nonetheless, there is no place for complacency. Price stability in the medium term has to be permanently ensured.
And the success achieved so far needs to be complemented and consolidated. For this reason, in the remainder of my talk today I would like to discuss the challenges that the ECB, and the euro area as a whole, face as they enter their second decade.