The particular challenges on the economic front include the firm and credible implementation of the Stability and Growth Pact, constant efforts to render our economies more productive, innovative and dynamic, and the avoidance of major competitive divergences within the euro area. Third, enlargement. When we started out ten years ago, we were 11 countries.
As of 1 January this year, we are now 16 countries. This says a lot about our historic endeavour. Handling enlargement in the best fashion possible is a very inspiring and demanding challenge for all of us. The euro is a historic achievement. What matters most today is our responsibility for the future. New challenges are arising.