These historical roots put in perspective the accomplishments of the Euro as a new currency, the present challenges of the euro area and the future of the Economic and Monetary Union. The achievements of the Euro as a currency have to be judged against its primary mandate.
Over nearly thirteen years, and in spite of a series of major global economic and financial shocks, average yearly inflation has remained at 2.0% for 332 million fellow citizens. Despite the successive rises of the price of oil and commodities, it is the best result, over such a period of time, of the 50 last years in any large country in Europe.