law has recently entrusted the bank with the surveillance ( or “ oversight ” ) of payment systems and securities clearing systems. to prevent excessive debts the government has also decided in principle to set up a “ positive ” credit centre, responsible for registering all credits taken out by households preventing default on payments. the competence which it demonstrated in managing the negative centre, responsible for registering cases of default only, and the commercial neutrality which typifies the national bank it, seem to render her very well - suited for that function. ladies and gentlemen, the national bank of belgium is 150 years old. i cannot tell you what will have become of it in 50 years ’ time, in 2050. but i will venture to tell you what it aims to be in 5 years ’ time, in 2005. in 2005 the euro will have been in circulation for three years in belgium and in ten other european countries in the form of coins and notes, some of which will have been printed by the national bank of belgium ’ s printing department. the national bank will continue to ensure the quality of the notes and coins in circulation. there will be less branches but the bank will maintain its presence in each belgian province. the national bank of belgium will be a faithful, active and appreciated partner in the eurosystem. the bank will also have maintained the quality and relevance of its research and sometimes increased its originality. in its service activities, the bank will endeavour to offer the best in terms of value for money ; it may develop some of its activities with similarly reliable partners. external and internal communication will have been stepped up. the corporate ethos, centred on the pursuit of excellence, will encourage creativity and initiative more than it does today. in our various areas of activity, the national bank will be able to recruit the best people. the entire population will regard it as an independent, competent and accessible public interest institution which provides real added value for belgium ’ s economy and society. ladies and gentlemen, we are proud of the bank ’ s history and ambitious for its future.

guy quaden : recent developments in the belgian economy speech delivered by mr guy quaden, governor of the national bank of belgium, on the occasion of the celebration of the national bank of belgium ’ s 150th anniversary, brussels, on 12 may 2000. * * * your royal highnesses, ladies and gentlemen, dear friends, i should like to begin by telling you how delighted and proud i am, as are the other members of the board of directors and the council of regency of our bank. first, i am delighted to see so many friends of the national bank of belgium coming to brussels this afternoon to celebrate the 150th anniversary of our institution with us. friends who have come from belgium, elsewhere in europe, the rest of the world ; from the world of public and private finance, but also from the political, economic, social and academic world. allow me to express my special thanks to my colleagues and friends, the governors of the various groups to which the national bank of belgium belong : the european system of central banks, the g10, the belgian constituency at the international monetary fund. all are present or represented here. the world of central banks is exceptional because of its position at the boundary between the state and the markets, between action and deliberation, and between tradition and modernity, but it is also exceptional in the fellowship which prevails there. i am glad to be a part of that. next i would like to tell you how proud i am, how proud we are, of two things. first, we are proud to be the guardians of a long and illustrious history, the history of an institution which, as the prime minister reminded us in his speech and as the video we have just seen also showed, has made a positive and substantial contribution not only to the economic and financial history of belgium, but also to european unification and international monetary cooperation. in particular, i would like to pay tribute to the three people who have preceded me at the head of our institution, whom we are delighted to have here with us this afternoon : cecil de strycker, jean godeaux, alfons verplaetse. in the second place, we are proud that, right from the start, the national bank of belgium has become a member of the european system of central banks and more specifically the eurosystem, which, in managing the new common european currency, links the european central bank and the eleven national central banks which are currently members. this represents the