The 1st of January 2019 marks 20 years since the euro was introduced, with exchange rates being frozen and prices denoted in euros. Introduction of the euro has brought important benefits to businesses and citizens through reductions in exchange rate risks, greater price stability and transparency, more attractive financing conditions, and increased trade.
Completing the Economic and Monetary Union (EMU) and strengthening trust in the euro is both a priority and a matter of urgency for business. Business investment requires a safe and predictable environment based on a well-functioning EMU. Significant further progress is still required to strengthen the EMU, with priority issues including the completion of the banking union and the establishment of a stabilisation function.