An Impossible Job: the ECB at 25

The transcript discusses the skepticism surrounding the euro's success, particularly from Milton Friedman, and highlights Otmar Issing's role as the first chief economist of the European Central Bank. Despite initial doubts, the euro has become the world's second-largest reserve currency. The video also addresses the euro's historical significance and the challenges it has faced, including financial crises and high national debts, particularly in Italy and France.

Who was a prominent critic of the euro project?

• Jean-Claude Trichet

• Milton Friedman

• Oliver Crook

• Otmar Issing

What was Otmar Issing's role in the European Central Bank?

• Governor

• Financial Analyst

• Chief Economist

• President

What was a significant societal impact of the euro in Germany?

• Improved trade relations

• Increased tourism

• Loss of the Deutsche Mark

• Higher inflation

Which of the following crises did the ECB face?

• Oil crisis

• Sovereign debt crisis

• Brexit

• Asian financial crisis

What is considered a major ongoing threat to the euro?

• High debt in Italy and France

• Currency devaluation

• High unemployment

• Political instability