This is not yet the end of the journey towards a genuine economic and monetary union, but the Meseberg Declaration maps out a path towards further institutional developments that will, over time, make our monetary union stronger, to the benefit of all Europeans. As a European institution, the ECB responded forcefully to the challenges posed by the crisis.
In doing so, it acted in complete independence and fully in line with its mandate to maintain price stability in the euro area as a whole. This independence, granted to central banks by the Treaties, is an invaluable asset, helping them to act as guardians of price stability in good as well as in challenging times.