Address by the Governor at the official dinner as part of Governing Council meeting

The speech as given takes precedence over the written version.

Dear President of the Republic of Slovenia, Mrs. Nataša Pirc Musar, dear President of the European Central Bank, Madam Christine Lagarde, dear Minister of finance, Mr. Klemen Boštjančič, dear colleagues from the Governing Council, and from Banka Slovenije, distinguished guests, good evening, and welcome to the dinner in honor of ECB’s Governing Council meeting hosted by Banka Slovenije. 

It is a great pleasure and privilege to address you tonight. Having you all here is a tribute to what Slovenia has accomplished in the past three decades since we gained our independence. Back then, in 1991, we have just started with our historic aspiration to become an active member of the European community and international institutions.

European Union was our natural point of gravitation and I am proud to say that this year we celebrated the 20th anniversary of Slovenia’s accession. Joining EU was an essential milestone on our journey. For us, EU represented a community where we can flourish and actively contribute to our common future.

Joining the Eurosystem in 2007 was the natural next step for a small, and increasingly open economy. We led the way and were the first member state from the big bang enlargement to adopt the euro.

For today's youth, the fact that Slovenia is part of the Eurozone is a reality they were born into. 

In general, Slovenians traditionally rank among those with the highest confidence in the euro. As a nation, we understand that a strong euro is a guarantee for a strong and resilient Europe, a guarantee for stability and prosperity of our continent.

Hosting the Governing Council meeting in Ljubljana will – I believe – further strengthen our trust and devotion to the euro project.

But it is not only our national, Slovenian experience which I would like to address tonight. It is also the journey that we – members of the Governing Council – have walked together in the past years. It was far from ordinary and – dare I say – far from what any of us expected when we joined the Council.

The long lasting period of low inflation was interrupted by two major crises – outbreak of the COVID-19 pandemic, followed by Russian aggression on Ukraine, with all the consequences they have had on our societies and economies.

Our policy response was fast, it was substantial and looking back, efficient. Our endeavors were supported by our credibility gained through many years of dedicated and independent professional work.

Let’s not forget that at the outset of both shocks, when we were initiating our actions, it was far from certain that our economies would demonstrate the ability to navigate turbulent times in such a markedly different way than in the past.

I believe that tonight's dinner is also an opportunity to look at these achievements with a bit of distance and pay tribute to our contribution to such an outcome.

Tomorrow, we will gather for our external meeting. I’m very glad that the key discussion in the field of monetary policy will take place in my home country. Regardless of the outcome, it will make the news around the world, and at the same time, it will resonate in Slovenia. It will directly affect our citizens and remind us once more, how important it is to be part of the euro area.

Before I conclude, let me invite you to enjoy a modern interpretation of the ballad "Water man", written by our most cherished poet, France Prešeren. As many of our legends, the story is exploring human nature and the values that define it. Above all, I hope you will enjoy its beauty as well.

Thank you.