Euro: Cipollone says monetary sovereignty is all the more important in an unstable world

He then quotes Ciampi on the single currency and shared sovereignty

"With the introduction of the euro, European countries have regained their monetary sovereignty. In an unstable world, this benefit of our single currency has become even more important.” So said Piero Cipollone, a member of the ECB’s Executive Board, concluding his speech at La Sapienza University during a conference marking the 80th anniversary of the Italian Republic. This

"With the euro, we have pooled a fundamental attribute of sovereignty," said the banker, recalling the words of the former President of the Republic and Governor, Carlo Azeglio Ciampi, regarding the challenges to the construction of European unity arising from within Europe: The principle of shared sovereignty, Ciampi said, “has effectively safeguarded the interests of states, fulfilled the peoples’ dreams of peace, security and progress, and prevented the resurgence of nationalism and the catastrophes caused by the clash of self-interest and hatred”.

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