Speaking before a plenary session of the European Parliament on 15 January, European Commission President Jean-Claude Juncker lauded the success of the single currency. He noted that criticism of the Economic and Monetary Union (EMU) is now less commonly heard than it was 20 years ago. Nonetheless, in a frank assessment of the strengths and weaknesses of the EMU, President Juncker acknowledged that while the monetary part of the Maastricht Treaty has been successful, progress on the political part remains weak. Juncker said that he considers the independence of the European Central Bank a great success, but called for additional integration in economic policy coordination. Juncker remarked that the EMU is peace policy by other means and urged parliamentarians to stay true to the euro’s heritage.