ECB celebrates 25 years with promise to beat inflation

European Central Bank president Christine Lagarde pledged Wednesday to reduce high inflation in the Eurozone as the institution that safeguards the euro marked its 25th anniversary.

 "For the ECB, our immediate and overriding priority is to bring inflation back down to our two percent medium-term target in a timely manner," Lagarde told around 200 guests at an event to mark the occasion.

The event featured renditions of music by French composer Claude Debussy and a mango-flavored cake cut by Lagarde and two of her predecessors, Jean-Claude Trichet and Mario Draghi.