continues to be a symbol of strength for the european project and one of its biggest success stories. and as we enter a new era of technological innovation, the development of a digital euro represents a logical and critical next step. by ensuring public money is available in digital form, we can future - proof our monetary system while maintaining trust and inclusivity for all european citizens. the digital euro will reduce costs by making financial transactions cheaper. it will facilitate innovation and competition and it will increase the resilience of the european payments system. conclusion 2 / 3 bis - central bankers'speeches last year, the central bank of ireland established a dedicated office in brussels to strengthen our capacity to engage effectively with eu institutions, providing timely input into the policy - making process, sharing our supervisory experiences and navigating the eu's legislative framework. we want to be a proactive and effective voice within the eu, playing our part in growing europe's prosperity. while there are indeed challenges ahead, there are also opportunities. by working together, as ambassadors, as policy makers, as regulators, as central banks, and by developing what someone1 once called a " dangerous unselfishness ", we can shape a resilient and prosperous future for our europe. thank you once again for the opportunity to speak with you today. 1 martin luther king, 3 april 1968 3 / 3 bis - central bankers'speeches

gabriel makhlouf : remarks at the eu heads of mission meeting remarks by mr gabriel makhlouf, governor of the central bank of ireland, at the eu heads of mission meeting ( homs ), embassy of the republic of bulgaria in ireland, dublin, 22 january 2025. * * * good afternoon everyone. it's a pleasure to have the opportunity to address you today. thank you in particular to ambassador andreeva - malakova for the invitation. allow me to start by acknowledging your important work in navigating an increasingly complex international environment. open dialogue and mutual respect have laid the groundwork for the meaningful cooperation at the core of our shared european project. it is also fundamental to the functioning of the broader international rules - based order that we have become familiar with over the last 80 years. and let me say, for the avoidance of doubt, that i remain a believer in the potential of international connectedness to strengthen communities rather than weakening them. ireland's track record is a testament to that. the first 50 years of independence are in stark contrast to the second 50 : from isolated protectionism to being part of the largest single market in the world. our economic success has not been linear but it has run in tandem with that of the rest of the eu. we know what happened following the financial crisis just over a decade ago. but our strong mutually beneficial relationship has ensured that ireland remains a vital part of the european project, contributing to and benefitting from the stability and opportunities it affords. the relationship underscores the importance of continued collaboration and shared progress. but it is also obvious that we are in another period of transition across the globe. political leaderships are changing across europe and across the atlantic. we have a new european commission and european parliament, where half of the meps are newly elected. this period of political change comes at a pivotal moment. the global geopolitical landscape faces significant strain and complexity, driven by competing interests, shifting alliances and increasingly independent economic blocs. the russian war on ukraine and its people threatens the principles of sovereignty and territorial integrity that has underpinned the international order that was established 80 years ago. the conflicts in the middle east and in sudan are human tragedies that we have become uncomfortably familiar with. simultaneously, the rise of economic nationalism and trade disputes have created friction between major powers. relationships appear to oscillate between competition and cooperation with resultant impacts on our individual and collective ability to tackle climate change