So, apart from its scope and potential severity, accounting for the climate and environmental crises is no different than accounting for globalisation, demographics or financial innovation. Central banks must adapt their data and economic modelling to be able to assess the monetary policy implications of climate change and environmental degradation, including transition policies.
In addition, the introduction of the new currency is not limited to the consumers’ own country, but instead involves another ten countries. For that reason, many consumers suspect that they will have made a bad bargain with the euro if the other economies do not prove to be as stability and growth-oriented as their own country.