This is because we are an open country. Page 8 of 9  Denmark may be surrounded by water, but we are not an island that is isolated from the rest of the world. We should appreciate the opportunities the world offers us.
Having set out the immediate impact of monetary unification on financial markets, I should like to give you a brief overview of the institution at the heart of managing our new currency, namely the Eurosystem. BIS Review 104/1999  2  The role of the Eurosystem Since 1 January 1999, the Eurosystem has had exclusive competence for monetary policy in the euro area.