Wim Duisenberg Euro Quotations

On the basis of the information available, the current stance of monetary policy is appropriate to ensure that the euro area will be able to maintain price stability over the medium term,

Whatever I say, whatever I do, the euro continues its movements so perhaps I am best advised not to say anything,

The Danish people have chosen to deprive themselves of benefits in the form of an increase in the rate of growth and the welfare of the economy that would have otherwise taken place, and that is already taking place within the euro area.

To them, I would like to say the following: I understand their concerns, since a persistently lower euro exchange rate might ultimately lead to higher prices in the shops,

This reduction is to be seen as an adjustment of interest rates to an appropriate level to ensure that the euro area will be able to maintain price stability and to contribute to growth,

There is some evidence -- although not uncontroversial itself -- of the emergence of a new economy in the United States. By contrast it is difficult as yet to find clear evidence of a new economy in the euro area,

Consequently, the strength in the upturn in economic activity has become more uncertain inside and outside the euro area.

So we do expect to maintain a growth rate in the euro area of at least 3 percent per year for the next two years.

This internal stability of the euro means that people can be confident that their savings and pensions will keep their value over time,

Economic activity in the euro area is determined mainly by domestic factors, ... Growth is very likely to continue at a reasonably robust pace.

In the past 25 years the average growth rate of euro area gross domestic product has been between 2 and 2-1/2 percent, ... We are now in for a period this year and next year when growth will be in excess, I would even say considerably in excess, of 3 percent a year.

In 100 days the euro will be in our pockets.

But we are such a large autonomous economic area, comprising a market of some 300 million people, that the impact of developments outside the Euro area on the Euro area are not negligible, but very limited indeed.

The depreciation of the exchange rate of the euro will increase the risks to price stability, ... In the medium term these risks have to be taken seriously, and we are taking them seriously in light of the current exchange rate.