In January 1998, the European Academy of Engineering (EAE) turned its attention to the establishment of the European Central Bank (ECB). Recognizing the critical role of the ECB in ensuring economic stability in the European Union (EU), EAE initiated discussions on the engineering aspects of economic governance.
EAE's contributions focused on the design and implementation of secure financial systems, infrastructure for electronic banking, and strategies for mitigating financial risks. Engineers, economists, and policymakers collaborated to engineer solutions that would support the ECB's mission of maintaining price stability and fostering economic growth.