Ten years of monetary policy cooperation in the Eurosystem

The European Central Bank and the national central banks of those EU member states that are members of the euro area have formed the Eurosystem since 1 June 1998. In its April 2008 issue of the Monthly Report, the Bundesbank explains the close cooperation between the Eurosystem’s central banks since then and describes the most important experiences and developments.

• Article in the December 2008 Monthly Report: The euro ten years on: the German economy in monetary union (in german only)
• April 2008 issue of the Monthly Report: Ten years of monetary policy cooperation in the euro area

For a stable single currency - The Bundesbank in the history of European monetary integration

"The basis of European monetary union (EMU) is a treaty concluded by the governments - not the central banks - of the participating countries. Nevertheless, the Bundesbank figured prominently in the creation of EMU. It played a crucial role in the process of integration ultimately moving in the direction of a monetary union geared to the objective of price stability. It did not press ahead resolutely with this process from the very beginning, however. This was because the Bundesbank was not concerned with the pace of integration but with taking the right course of action." .....view full text her.