The Eurosystem’s federal structure has made it possible to integrate the expertise and knowledge of the NCBs. Today, NCBs play an important role in running the daily tasks and operations of the Eurosystem, in providing infrastructures and in communicating with national audiences. The Eurosystem´s joint effort and team spirit have been crucial in making the euro a truly European success story!
When asked about the prospects of the common currency in 1998, a famous economist replied “I think it's a big gamble and I'm not optimistic.” I am both proud and happy to be able to say today that reality has proven his pessimism wrong! 4  BIS Review 56/2008