Over the past quarter of a century, we have welcomed nine new countries to the euro area, bringing us from 11 to 20 – with the most recent, Croatia, joining at the start of this year. We have now reached a position where people can separate institutions from policies – which in my view is the hallmark of success.
They may like or dislike the policies of the ECB, but they mostly no longer question whether being part of the euro area is the right choice.