The European Central Bank (ECB) celebrated its 25th anniversary with a special ceremony at its Frankfurt am Main building, with ECB’s President Christine Lagarde welcoming a host of dignitaries including German Chancellor Olaf Scholz, European Commission President Ursula von der Leyen, European Parliament President Roberta Metsola and European Council President Charles Michel. Former ECB Presidents Mario Draghi and Jean-Claude Trichet were amongst the guests of honour present during the event.

The Malta Financial Services Authority joined these celebrations, with Michelle Mizzi Buontempo – the Authority’s Chief Officer Enforcement – attending the event in her capacity as ECB Supervisory Board member.

The MFSA forms part of the single supervisory mechanism (SSM) which establishes the ECB as the central prudential supervisor of credit institutions in the euro area.

In her opening address, President Lagarde said: “At its root, the story of the euro is one of building the foundations for lasting peace. It is a story that stems from Europe’s far-sighted decision after the Second World War to bind its economies together so tightly that our futures would be inseparable, and which, in turn, created the powerful logic underpinning European integration.”

The ECB was officially established on 1 June 1998, six months before the euro was introduced as the electronic accounting currency in 11 of the then 15 European Union member states on 1 January 1999. On 1 January 2002, the national currencies of these states switched to the euro. Today the single currency is the official means of payment for more than 346 million people in 20 EU states.