ECB's Gonzalez-Paramo on European Monetary Union

In the speech 'European Monetary Union. Where do we stand?' given on 13 July Jose Manuel Gonzalez-Paramo of the ECB said judging from the experience to date, the euro currency has been an unquestionable success - euro area price stability being the best exponent.

"The ECB's clearly defined mandate, its independence and its full accountability are key elements of this success. The performance of the European economy in recent years also shows, however, that price stability itself is not sufficient

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