In a New Year message posted on social media platform X, Christine Lagarde, the President of the European Central Bank (ECB), extended warm wishes for the new year and took a moment to reflect on the significant milestone of the Euro’s 25th birthday.
Lagarde posted, “A new year has begun – full of new challenges and opportunities. This year, the euro celebrates its 25th birthday. Now there’s a reason to celebrate! So, with that, I wish you and your loved ones a happy new year, and a successful 2024”.
She went on to express her excitement about the Euro celebrating its 25th birthday in 2024, marking a quarter-century since its launch on January 1, 1999. Lagarde’s message resonated with optimism as she emphasized the significance of the Euro in the lives of around 350 million people across 20 countries, stating, “The Euro was launched as a new common currency. Three years later. People were starting to hold banknotes and coins in the hands in their pockets. Since then. The Euro continues to unite us”.
She added, “About 350 million people in 20 countries, use it every day. Some of you watching may not even remember a time before the Euro, But its benefits are clear in all our lives. The Euro has made it easier to work travel and conduct business. The Euro has made it easier to work travel and conduct business wherever you are in the Euro area. Here at the ECB. We are the custodians of the Euro”.
Reflecting on the achievements of the Euro over the years, Lagarde highlighted how the common currency has facilitated easier travel, work, and business transactions within the Euro area. She nostalgically recalled the early days when people started holding Euro banknotes and coins in their hands, emphasizing its role in shaping a more connected and collaborative Europe.
She said, “We serve you. By taking care of our currency working for price stability, and making sure that we keep the Euro fit for the future. We are 25 years old. But this is only the beginning of the Euro’s journey as we bring our currency. Into the digital age. By preparing the foundation for a possible digital Euro”.
“To complement cash. By the way. By the same token, we are also working hard on even more beautiful banknotes”, she added. She underscored the ECB’s commitment to being custodians of the Euro and serving the public by ensuring price stability and keeping the Euro resilient for the future.
Looking ahead, Lagarde unveiled the ECB’s forward-looking initiatives, revealing plans to bring the Euro into the digital age. This move aligns with the evolving landscape of digital currencies, reflecting the ECB’s commitment to staying at the forefront of financial innovation.
Additionally, Lagarde teased a focus on enhancing the physical aspect of the Euro. This commitment to both digital and physical facets emphasizes the ECB’s dedication to modernizing the Euro while preserving its aesthetic appeal.
Lagarde reaffirmed the ECB’s dedication to European integration, stating, “We will keep working towards greater European integration in whichever way we can. Your Euro. Your money.”
