The European Central Bank's vigilance will ensure future price stability and a stable euro, ECB Governing Council member Klaus Liebscher wrote in an Austrian newspaper on Wednesday.
"The council of the European Central Bank is first of all committed to price stability -- its vigilance ensures that we retain our purchasing power and that the euro remains a stable currency," Liebscher wrote in a column in daily Oesterreich.
Liebscher, who heads the Austrian central bank, was also positive about the European economy.
"Today Europe seems to be strong enough to weather a moderate slowdown in the United States," he said.
"The overall optimism should not lead to complacency. Volatile oil price developments and global imbalances remain great political challenges. On top of that, the global economy could face the risk that with higher economic performance the prices could also rise."