Approaching the 10th Birthday of the euro a stock-taking of the economic outcomes clearly points to a remarkable achievement of the price stability, thereby clearly defying the early skeptics of European Monetary Union and proving the high degree of credibility of the common monetary policy. However, price stability is a common good that has to be safeguarded in a constantly changing economic and financial environment. Thus, past successes are by no means a reason for complacency. This is especially true, given the current challenges for economic and price stability due to financial market tensions and energy and food price increases. In his talk, guest speaker Prof. Dr. Axel A Weber, President of the Deutsche Bundesbank, analyzed the experiences with the common European currency as well as the current challenges.