1 June is the anniversary of the European Central Bank, one of the seven Institutions of the European Union. It was established on this date in 1998, replacing the former European Monetary Institute as stated in the Maastricht Treaty (Treaty on European Union- TEU). The first president of the European Central Bank was Wim Disenberg and the headquarters were set up in Frankfurt, Germany.
The first main task of the ECB was to launch the euro on 1 January 1999, making it the currency of more than 300 million people in Europe. However, the physical form of the currency was not introduced until 1 January 2002. As of today, euro banknotes and coins are used in 20 of the 27 Member States of the European Union. The micro-states of Andorra, Monaco, San Marino and Vatican City also use the euro. Thus, euro banknotes and coins have become a symbol of European integration.
Nowadays, the European Central Bank is in charge of conducting EU economic and monetary policy, managing the euro and keeping prices stable.
If you want to learn more about the history of the European Central Bank among other things while practicing your interpreting skills, we encourage you to check out this speech:
EN: The future of the Euro Area
You can also visit the Monetary and Economic Affairs section of the Speech Repository.