At a press conference held in August 2013, Mario Draghi, President of the ECB, explained that the ECB’s policy reaction function is linked to the outlook for price stability in the medium term in a timely manner. Feature (5): the strengthened role of central banks in light of macroprudential policy Fifth, the global financial crisis has placed macroprudential policy as an increasingly important policy.
I am referring to the urgent need to complete the process of structural reforms, chiefly in the labour, product and capital markets. Let me start with the key successes of the euro to date. Successes of the euro Six years after the start of EMU, we can already count successes on a number of fronts.