Second, four EU Member States have not (yet) introduced the euro. This will not happen automatically, but will require effort on the part of many authorities, institutions and people. The challenge now is to make it a success. A good launch is crucial, but only the beginning of the mission. First, the launch of the euro can be compared to the launch of a rocket. They are not the completion of this process, for at least two reasons. The introduction of the euro and the establishment of the ECB are important new steps in this process of European integration. It is true that economic integration has been the main engine of this process and that, although it has had its ups and downs, integration has delivered important economic benefits. Indeed, this process has been driven and continues to be driven by the political conviction that an integrated Europe will be safer, more stable and more prosperous than a fragmented Europe. The aims of European integration are not only, or even primarily, economic. This process started shortly after the second World War and has now been under way for more than half a century. The introduction of the euro is part of the process of European integration. However, it should not be seen as a single, isolated event. The voluntary transfer of monetary sovereignty from the national to the European level is unique in history. Euro banknotes and coins will only be introduced in 2002. Former national currencies, such as the French franc and the German Mark are no longer autonomous currencies, but subdivisions of the euro. The ECB started to conduct a single monetary policy for the so-called euro area. On 1 January of this year the euro was introduced in 11 countries with a combined population of almost 300 million. I shall conclude by briefly addressing the issue of EU enlargement. I shall then turn to our monetary policy strategy and the role of accountability and transparency in this strategy. Thereafter, I shall discuss the main features of the institutional structure that determines monetary policy-making.

First of all, I shall explain the background against which the introduction of the euro and the establishment of the ECB should be considered. Today in my speech I should like to focus on the role of the ECB, as a truly European institution. Of course, the real work had to be done by you yourselves and I believe you can be proud of what has been achieved over the past decade. My previous central bank, de Nederlandsche Bank, has, together with the International Monetary Fund and many national central banks, been involved in assisting the NBP in its efforts to adapt to the role of a central bank in a market economy.

I am aware that the role of the NBP has not been constant over these 75 years and that in the past decade, in particular, the NBP has gone through a remarkable restructuring process. The age of the NBP already suggests that as the President of the European Central Bank (ECB), an institution that is even less than one year old and has only been conducting monetary policy since January this year, I should be modest. Get: 5x Story Tickets, 2x Muffins, 5x Aurenaristy, 1x Magic Grade (+200pt)1x 'Matching Outfit with Rembrandt' Д¤.First and foremost, I should like to congratulate the National Bank of Poland (the NBP) on its 75th anniversary. Get: 5x Story Ticket, 2x Elias' Classic Muffin, 1x 5 Aruenaristy, 1x Magic Grade (200pt), Rembrandt Casual Outfit' Unhappy Ending = Default Ending 500 CoinsДў. Normal:Illusional Garden Background : 500 Coins or 9,000 LuneДЎ. Premium:Prospering Castle in the Sky Background : 1,000 Coins Normal:Navy Cotton Casual Dress : 400 Coins or 5,000 LuneД«ecause it's kind of embarrassing. Normal:Casual & Simple Ponytail : 100 Coins or 1,500 Lune Premium:Crystal Blue Pigtails : 300 Coins Normal:Magical Flat Shoes : 40 Coins or 400 LuneД¬hapter 10: Return to The Castle in The Sky Premium:Glowing Crystal Heels : 100 Coins

That definitely won't happen! (Intimacy +7)Д§.06 Yes вЂ¦ Let's stay here together forever? Premium:Shining Crystal Braclet : 200 Lune or 20 Coins It seems like Willem doesn't want to fight.

Shall we date willem