Banka Slovenije listens to representatives of civil society as part of the ECB strategy review

11/25/2020 / Press release

Banka Slovenije today organised an ECB Listens event as part of the ECB strategy review. We heard from 12 representatives of civil society organisations and businesses. They highlighted the need for equal conditions of access to financial services, an approach to sustainable living, and the digitalisation of banking. They also advised on the necessity of central banks’ communications with the general public, and the great importance of financial education in the school system.

We have heard about numerous ideas and challenges. And I agree about the importance of the vast majority of the issues that you raised. I will take your message into the discussions with the other euro area governors, and the ECB’s new monetary policy strategy will be drawn up on the basis of these discussions,” said Boštjan Vasle, Governor of Banka Slovenije, at the close of the event.

The ECB’s monetary policy strategy was defined for the first time in 1998, when the ECB began its work. This strategy sets out the approaches and guidelines for achieving the ECB’s primary purpose, which is to ensure price stability in the euro area. Since the last change to the strategy in 2003, the European economy has undergone a number of structural changes and a financial crisis. The members of the Governing Council of the ECB, whose members since Slovenia joined the euro in 2007 have included the Governor of Banka Slovenije, have therefore decided to review the strategy.

The aim of the review is to make sure the strategy is fit for purpose, both today and in the future. The strategy review thus includes all aspects of monetary policy, within the framework of the mandate to maintain price stability. The review is open-minded to a variety of views and opinions, and in particular to the views of citizens and civil society organisations.

The discussion organised by Banka Slovenije and moderated by journalist and editor Jure Ugovšek focused on two main areas: monetary policy and communications, and global challenges – the role of the ECB and central banks in the future The participants were Bojan Ivanc from the Chamber of Commerce and Industry, Marko Rant from the Invoice Exchange, Alenka Valher from the Slovenian branch of the International Movement for Money Reform, Breda Kutin and Marko Tretnjak from the Slovene Consumers’ Association, Anja Blaj from Blockchain Think Thank Slovenia, Andrej Cetinski from the Slovene Federation of Pensioners’ Associations, Jonas Sonnenschein from Plan B for Slovenia, Anka Krajnc from the University of the Third Age, Jaka Matičič from the National Youth Council, Katarina Matejčič, a journalist, and Alenka Vidic Praprotnik from the Public Relations Society of Slovenia.

The participants’ messages will be forwarded to the relevant ECB working body, which will draw up materials for discussion at the meeting of the Governing Council of the ECB. The Governor of Banka Slovenije will take part in the meeting, as usual.

A video summary of the discussion is available on our social media an on the link