There are varying needs for true innovation clusters à-la-Silicon Valley, as well as investments in scientific and technical education, research and development, encouragement of “angel investments”, and grassroots and sustainable banking. Labour markets need to become inclusive and fair in every country, while encouraging labour mobility, in particular in a monetary union.
I am convinced, that stimulating input by the distinguished discussants will be beneficial to all participants. The Banque centrale du Luxembourg, given its mandate of prudential liquidity supervision and its role in macro-prudential policies, has joined the European Supervisor Education Initiative in 2010. Against the background of renewed vulnerabilities and turbulences in markets, the subject of the conference is indeed very timely.