A Union which has provided great benefits for the people of Europe, increasing living standards across Member States and bringing them closer together. But this great European project has to do more than just reflect on its past achievements. It needs to continue improving itself to deliver visible benefits for people’s day-today lives. I am confident Europe will once again rise to the challenge.
Thank you. 1 See, ECB (2017) Financial Stability Review, May, Box 1. Figures relate to financial services provided to the non-  financial corporate sector. 2 See Cimadomo, J., Furtuna, O. and Giuliodori, M. (2018), “Private and public risk sharing in the euro area”,  Working Paper Series, No 2148, ECB, May.