The European Central Bank was created in 1988, a few months before the introduction of the single currency. Since then, it has pursued its objective of maintaining price stability.
This anniversary comes at a time when inflation in the euro area is at an all-time high. "We will ensure the return of inflation to our objective," Christine Lagarde, its president, assured Wednesday in the European press. The ECB now employs 4,200 people, ten times more than in 1999, according to the latest figures.