Sometimes we may need to rely on information that is qualitative, even anecdotal. Efficiency in producing outputs is vital for maintaining high quality public services, but we must never lose sight of the fact that the ultimate policy objectives are defined in terms of outcomes. In short, we need to do right things and we must do them well.
Ladies and Gentlemen, The euro has been a success to an extent few would have predicted ten years ago. Signs are good that this success will continue – that the euro will continue to underpin price stability and to promote economic and financial integration in the euro area and beyond.