I firmly believe that Europe has to get this project right and that it cannot afford to get off to a bumpy start. A banking union will not be a quick fix for the current crisis. But it is a major milestone on the road to a more stable and prosperous monetary union and hence instrumental in restoring confidence in the euro area.
Nesting has described his term as “continuity plus, plus.” Indeed, we have a firm pipeline of policies and programs across the BSP that we have identified as critical, moving forward. This includes further refinements of our Interest Rate Corridor, the implementation of our National Retail Payment System, the continuing banking sector reform agenda, and ASEAN integration.