Introductory statement to the presidency press conference following the meeting of the G7 finance ministers and central bank governors 20.05.2022 | Königswinter | Joachim Nagel 1 Introduction 2 Promoting long-term growth and resilience 3 Ensuring sound public finances 4 Refocusing monetary policy  1 Introduction Ladies and gentlemen, I, too, would like to bid you a very warm welcome to the G7 (Gruppe der Sieben) presidency press conference.
I have had a hard time, sometimes as a central banker, and sometimes as the head of a trading company, dealing with fluctuations in foreign exchange rates. In the meantime, EU countries made efforts to stabilize foreign exchange rates between member countries and such efforts paid off at the end of the 20th century. They gave birth to a single currency, the euro.