consider electronic means of payment to be more in keeping with the times. this divide is also reflected in public opinion about cash. on one side of the spectrum, there is at times talk of cash as a " curse " or a technology of a bygone age. at the other extreme, there are some who believe that we are heading knowingly towards a cashless society – and thus entering a world devoid of privacy and data protection. of course, books on polarising topics need to exaggerate in one direction or the other. when it comes to the multifaceted question of the future of our money, though, i don't think it's particularly helpful to see things only in black and white. 3 the book's key messages ladies and gentlemen, the main thrust of this book is to engage precisely with this often - impassioned debate on the future of our money by presenting and appreciating different viewpoints in an objective and balanced manner. 2 / 4 bis - central bankers'speeches we achieve this by considering the various aspects of money and currency from all manner of angles in the hope that the resulting insights yield a particularly nuanced, and at times even surprising, new overview. a conscious decision was made to cover a broad range of topics : from the history of money in europe to the symbolism and special importance of currency in the context of german monetary union and ultimately of european integration, all the way through to the money of tomorrow in an era of digital transformation. these are illuminated from an economic, philosophical, sociological or – as heard at the beginning – psychological perspective. i am very grateful to each and every one of this book's truly renowned authors for their enlightening contributions. the end result is, i believe, a unique compendium containing 33 individual perspectives. the contributions to the book are divided into three parts. the first covers money and currency in europe. these contributions shed light on aspects of european integration, put the role of cash into an economic and legal context, and explore the history of money. the second part of the book focuses on the special significance of national central banks in supplying cash to the domestic economy. we start by looking at germany and the bundesbank's prominent role in germany's cash cycle. we then broaden our horizons beyond the euro area and embark on a journey through the world's large industrial nations and emerging market economies. national central banks from major g20 countries explore three key issues

willem f duisenberg : the euro and the greater europe speech by dr willem f duisenberg, president of the european central bank, at the parliamentary assembly of the council of europe, during the debate on the theme " the euro and the greater europe ", held in strasbourg on 24 january 2001. * * * dear president, members of the parliamentary assembly, ladies and gentlemen, i should first like to thank you, mr. president, for your warm words of welcome. it is indeed a privilege to address an audience as distinguished and truly pan - european as the parliamentary assembly of the council of europe. i am happy to continue the exchange of views that commenced with the visit of the committee of economic affairs and development to the european central bank in april 1999, which you mentioned. my presence here today - as with our meeting then - is intended to confirm the great importance which the ecb attaches to the implications of the euro for the greater europe. in my brief remarks, allow me to elaborate on some of the issues that are raised in the draft resolution of this assembly, in the hope that i may enrich your discussion by providing an " insider's view ". the effects of the euro on the greater europe will depend to a large extent on our ability to make the euro a lasting success. i say " our " ability, because i am referring to the joint efforts of all relevant actors within the european union : not only the ecb and the national central banks, but also policymakers in eu institutions and in the member states, business and trade unions, financial market participants and the citizens at large. i am aware that the eu has been criticised for its obsession with its own internal dynamics, and for having little regard for the greater europe or for the rest of the world. nevertheless, allow me to start with a brief overview of what we have achieved with respect to our new currency. thereafter, i shall outline the challenges ahead, many of which are inextricably linked to the prospect of eu enlargement. by a number of measures, the euro is already a success today. first and foremost, the ecb has fulfilled its mandate to preserve price stability. we consider this a substantial accomplishment, not least in view of the sometimes adverse circumstances, such as the protracted depreciation of the euro or the sharp increase in oil prices. both led to sizeable, although only temporary, inflationary pressures. we are also witnessing a deepening integration of the financial