This instability of market expectations did not go unnoticed in particular in the Central Banks issuing the currencies that had already converged. Signs of an upswing were still tentative and price strains were not yet fully in sight in this core currency area.
At his farewell celebration on 22 October 2003 he said: “All in all, I had the privilege of being part of history. Being responsible for the introduction of a new currency is the dream of any central banker, I believe. A dream that, in my case, has become reality.