The monetary disorder of the thirties created the need for a new reform, which was implemented after the Second World War with the Bretton Woods agreements.
Last week, the Eurosystem decided to launch the investigation phase into these three components. The aim is to ascertain whether there is a business case for each, to agree with the users on the scope of services and to prepare a cost-benefit analysis. Let me say a few words now on each of the three components. 1.