This happened despite the fact that the text of the European Constitution does not imply any changes to the role of the ECB, nor does it significantly affect the allocation of responsibilities in most other policy areas. The continuous challenge for Europe has been to find the right balance between political, economic and monetary integration.
Let us also thank the officers and staff of Citi Philippines headed by Country Officer Sanjiv Vohra for initiating and sustaining the Citi Microentrepreneur of the Year Awards which is now on its 6th year. With Citi, this annual recognition of outstanding microentrepreneurs has been institutionalized. A round of applause please for Citi.