Stimulating further financial market integration Economic growth can get an additional boost by more financial market integration. Clearly more needs to be done in the equity market. While slowly increasing, only a quarter of the equity portfolio of euro area residents consists of equity issued in another euro area country.
Before I turn to your questions, I want to say a few words to recognize the incredibly powerful work you all do as teachers. It would be important to mention this in any year, but especially now, in the 17th month of our upended reality.