As a European, I feel that I cannot finish my presentation without a few words on perhaps one of the most complex challenges ahead for my continent: its future constitutional set-up. This is an issue about which we are often asked by our Asian friends. European integration is a unique endeavour.
While risks surrounding the euro area growth outlook remain broadly balanced, uncertainties emerging from increased global protectionism, the finalisation of the Brexit negotiations and vulnerabilities in emerging markets have become more visible than a few months ago. The ongoing expansion has led to strong employment gains. Since the beginning of the recovery, around 8.4 million jobs have been created.