They underscore just how far finance still has to travel to regain its social licence. This “Great Divide” is my jumping-off point. I want to discuss the crucial role finance plays in society and why. I want to discuss the progress made, so far, in restoring trust in finance.
Competitiveness differentials across Member States Competitiveness differentials within the euro area – but also globally – are a challenge because they can lead to macroeconomic imbalances. The recent crisis has taught us a  1  Al-Eyd, A. and Berkmen, S. P. (2013). Fragmentation and Monetary Policy in the Euro Area, IMF Working Paper WP/13/208.