Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

The European Central Bank celebrates its 25th anniversary

The European Central Bank celebrates its 25th anniversary

Hundreds were in attendance in Frankfurt to mark 25 years of the ECB. Today the euro is the world's second currency, used by almost 250 million Europeans in 20 countries.
Two hundred guests attended an event at the European Central Bank in Frankfurt to celebrate the 25th anniversary of the institution.

Among those present at the glass and steel ECB HQ in Frankfurt were the current ECB president, Christine Lagarde, and two of her predecessors, Jean-Claude Trichet and Mario Draghi.

In the last 25 years, the eurozone, overseen by the ECB, has grown from 11 to 20 members. Today the euro is the world's second currency after the dollar and is used by almost 250 million Europeans in 20 countries.


Speaking at the celebration, the European Commission President, Ursula von der Leyen, made it clear the project is far from over as she spoke about the future.

"Together with the ECB, we are working on a digital version of the euro to complement our trusted banknotes and coins," she outlined. "We never forget who it is meant to serve: our citizens. It is the trust of citizens and businesses that the digital euro needs to earn. In this spirit, the Commission will shortly put forward a proposal for a legal framework for Europe’s digital currency."

But the ECB's first priority right now is to curb inflation, and it is struggling. In April it reached 7%, driven by food prices, while energy prices recorded a significant decline.

The ECB's work and tasks were first defined in the Maastricht Treaty in 1992; since the Lisbon Treaty in 2007, it has formally had the status of an EU institution.

In 2014, the ECB was additionally entrusted with the supervision of systemically important banks in the euro area under the Single Supervisory Mechanism.

Its headquarters are located in Frankfurt's Ostend district.
Newsletter

Related Articles

Budapest Post
Close
0:00
0:00
Olaf Scholz Assures: No Cuts to German Welfare State Amid Budget Crisis
Greece and Turkey Agree to Reboot Relations After Landmark Talks in Athens
Greece and Turkey Agree to Reboot Relations After Landmark Talks in Athens
No. 10 Advised: Rwanda Plan Has '50% at Best' Chance of Success Before Election
Significant Shift: UK Voters Express Desire for Closer Relationship with EU Since Brexit
Sadiq Khan Appeals to Progressives for Support Amidst Concerns Over New Voting System
Sunak Faces Further Scrutiny in Covid Inquiry as Pranksters Claim Access to His Former Phone Number
NHS Issues Apology for Sending Incorrect Body for Family Cremation
Labour Intensifies Condemnation of Gaza Violence
Senior doctors' significant pay increase creates tension within NHS
Two distinct investigations into the Covid pandemic are underway in the UK, each adopting a contrasting approach
Stephen Fry Returns to Work Just Three Months After Stage Fall
Laura Kuenssberg Reports: Tory Party Divisions and Disputes Heighten Pressure on Sunak
UK's Generation X Skeptical About Retirement Prospects
EU Fiscal Agreement Sparks Disagreement Between France and Germany Over Investment Expenditure
EU Fiscal Agreement Sparks Disagreement Between France and Germany Over Investment Expenditure
UK Parliamentary Committee Criticizes Lackluster Post-Brexit Financial Reforms
UK Parliamentary Committee Criticizes Lackluster Post-Brexit Financial Reforms
US, UK, Canada Impose Sanctions on Dozens on Human Rights Anniversary The US, UK, and Canada have collectively imposed sanctions on dozens of individuals and entities for human rights abuses to commemorate the 75th anniversary of the Universal Declaration of Human Rights
US, UK, Canada Impose Sanctions on Dozens on Human Rights Anniversary The US, UK, and Canada have collectively imposed sanctions on dozens of individuals and entities for human rights abuses to commemorate the 75th anniversary of the Universal Declaration of Human Rights
"New Beginnings: Greece and Turkey Agree to Repair Relations
"New Beginnings: Greece and Turkey Agree to Repair Relations
Finland's Supreme Court Prevents Extradition of Russian Terrorism Suspect to Ukraine
Finland's Supreme Court Prevents Extradition of Russian Terrorism Suspect to Ukraine
UK Proposes Streamlined Financial Advice to Reduce Costs for Consumers
UK's Labour Party Conducts Review of Financial Services to Boost City's Growth Potential
London City Hall Condemns Blast Targeting Clean Air Zone Camera
Controversy Surrounds President Macron's Hanukkah Candle Lighting Ceremony at Elysée Palace
Venezuela Steps Up Claim on Guyana's Essequibo Region
Spain's First AI Model Earns Up to $10,000 Monthly
German Cabinet Works to Address 'No-Debt' Crisis After Court Outlaws Budget
Former President Restricted from Leaving Ukraine Amid Alleged Plan to Meet Hungary's Viktor Orban
Spain soccer kiss: Furore grows as prosecutors launch probe against federation chief
Paper straws found to contain long-lasting and potentially toxic chemicals - study
FTX's Bankman-Fried headed for jail after judge revokes bail
Blackrock gets half a trillion dollar deal to rebuild Ukraine
Steve Jobs' Son Launches Venture Capital Firm With $200 Million For Cancer Treatments
Greek PM offers tourists affected by wildfires a free stay in Rhodes next year.
Israel: Unprecedented Civil Disobedience Looms as IDF Reservists Protest Judiciary Reform
Google reshuffles Assistant unit, lays off some staffers, to 'supercharge' products with A.I.
End of Viagra? FDA approved a gel against erectile dysfunction
UK sanctions Russians judges over dual British national Kara-Murza's trial
US restricts visa-free travel for Hungarian passport holders because of security concerns
America's First New Nuclear Reactor in Nearly Seven Years Begins Operations
Southeast Asia moves closer to economic unity with new regional payments system
Political leader from South Africa, Julius Malema, led violent racist chants at a massive rally on Saturday
Today Hunter Biden’s best friend and business associate, Devon Archer, testified that Joe Biden met in Georgetown with Russian Moscow Mayor's Wife Yelena Baturina who later paid Hunter Biden $3.5 million in so called “consulting fees”
How “peacekeepers” at the UN spend our American tax dollars.
Singapore Carries Out First Execution of a Woman in Two Decades Amid Capital Punishment Debate
Spanish Citizenship Granted to Iranian chess player who removed hijab
×