*  *  *  I wish to thank Peter Karadi for his contributions to this speech, and Oreste Tristani for his comments. I remain solely responsible for the opinions contained herein. Ladies and Gentlemen, It is a great pleasure to be at the Banque de France today to speak at the 2013 International Monetary Seminar.
Benoît Cœuré: The consequences of protectionism Panel contribution by Mr Benoît Cœuré, Member of the Executive Board of the European Central Bank, at the 29th edition of the workshop "The Outlook for the Economy and Finance", "Villa d'Este", Cernobbio, 6 April 2018.