In particular, I would like to talk about the role of the ECB’s monetary policy in the current economic expansion and describe how it has helped to foster employment and growth in the euro area as a whole, and also here in Eure-etLoir.
And, perhaps even more importantly, I will also set out what monetary policy cannot do, and how sustainable growth crucially depends on growth and job policies decided at regional, national and European level. The ECB’s response to financial fragmentation Let me start with an overview of the situation in the euro area.