In the meantime our institutions continue to become more complex raising the issues of potential contagion and the effective management of systemic and liquidity risks. The need for specialists in our supervision departments to deal with these and other emerging complexities such as financial modeling, is a matter that we must address as a region.
The introduction of the euro, which was successfully launched just over six months ago, marks a significant milestone in the process of European integration and will bring considerable benefits to the nearly 300 million citizens of the euro area. The introduction of the euro will have a profound impact on the world economy, as well as the euro area itself, in years to come.