Paying with a single currency in daily transactions throughout the euro area can be regarded as an achievement of historic proportions and as a major step towards greater European integration. Now, three days before the remaining national currency denominations will cease to be legal tender, I can say that the operation has progressed very smoothly and successfully, even beyond our expectations.
We have been entrusted with important responsibilities by the Australian parliament and the government: determining Australia's monetary policy; issuing Australia's currency; operating the core of Australia's payment system; acting as the banker for the Australian Government; and having broad responsibilities for financial stability and for competition, efficiency and stability in the 5 / 11  BIS central bankers' speeches  Australian payments system.