Ten years – United towards stable money

On 1 June 1998, the European System of Central Banks launched concrete preparations for European monetary union. Together with the newly established European Central Bank, the national central banks prepared for the changeover to the single currency. Ten years ago, on 1 January 1999, 11 European countries introduced the euro as the single currency, although payments were still made in national currencies. The participating central banks began issuing euro banknotes and coins on 1 January 2002.

Chronology of monetary integration
The Bundesbank, as the central bank of the Federal Republic of Germany, actively followed and helped to shape this process from the very beginning. Since 1999, it has been part of the Eurosystem, in which it has shared responsibility for the single currency with the other central banks of the EU member states that have adopted the euro and the European Central Bank. The Bundesbank brings its stability orientation and its experience as an independent central bank to the table.