I would like very much to hear some congratulations for this institution, which has delivered price stability in Germany over almost 13 years at approximately 1.55% – as the yearly average of inflation – we will recalculate the figure to the second decimal.
And so would we.
So, join us at 1.30pm (London time) for a special Markets Live to give thanks and say a fond farewell to Mr Price Stability himself.
We can’t promise another outburst like this:
I will say the following: first, we were called to deliver price stability! We were called on by all the democracies of Europe to deliver price stability and, in particular, of course by the 17 democracies that asked us to issue the currency in their 17 countries. We have delivered price stability over the first 12-13 years of the euro! Impeccably!
But we’ve got our fingers crossed.
Related link:
Webcast of the press conference 6 October 2011 – ECB
Markets Live – FT Alphaville
“But wouldn’t a weak euro be preferable to no euro at all?” – FT Alphaville