BIS central bankers’ speeches  3  Let me conclude by mentioning briefly one aspect of the low interest rate and low productivity growth problems – the fact that the Fed has been close to being “the only game in town,” as Mohamed El-Erian and others have described it.
In the past, together with the EU leaders, the European Parliament took the fundamental decisions to create the Single Market, and in its wake the euro. Today, we are all reaping the benefits of their commitment and we want the future generations of Europeans to similarly benefit from our commitment as well. Today, our duty is to complete what was started two decades ago.