In other words: the more persistently policy BIS Review 64/1997  -4-  makers in all the participating countries champion the independence of the European Central Bank and then also respect its monetary policy decisions.
But still unemployment is high and divergences among member states are always there. What should be done so that the euro delivers on its promise to increase the wealth of the societies? To discuss this I am joined here by the Vice-President of the European Central Bank Mr Vitor Constancio. Mr Constancio: welcome to Global Conversation.