FRANKFURT, June 19 - Bundesbank President Ernst Welteke said on Tuesday that Europe's monetary union had led to low inflation and interest rates and an unprecedented period of stability for Europe.
"Inflation as well as interest rates have gone down to levels hitherto not experienced in many participating countries," Welteke, a member of the European Central Bank's council, said in the text of a speech scheduled to be delivered at the International Arab Banking Summit in Frankfurt.
"Growth and stability will be promoted by the common currency.
"Many changes in the political and structural conditions in Europe are yet to come. Europe is a region departing for more integration and a brighter future. This makes it particularly attractive for potential partners."
Welteke said monetary union had let to a region of stability unprecedented in European history.
The speech text was distributed by the Bundesbank in advance.