We also share a challenge: the need to monitor and analyse current developments while simultaneously understanding how the underlying economic structures are changing. Today I would like to share with you some reflections on these changes and their implications. A preamble.
As you are aware, the creation of an economic area with a single market and 12 national economies now sharing a single currency – the euro – has been a unique endeavour in economic history. Other countries will follow in adopting the euro in the future. This has set in motion several new developments to which we need to pay close attention.