I did not elude the burning issue of exchange rate management when invited to speak at a Round Table on the exchange rate organised by the Mauritius Exports Association.
With the single currency in place and the successful implementation of structural reforms and sound fiscal policies, we would expect some of the remaining national differences to disappear over time. The Maastricht Treaty provides a fundamentally sound allocation of objectives and instruments between the single monetary policy and national fiscal policies in Europe. The Eurosystem is responsible for maintaining price stability.