Ensuring that individual Member States are converging towards best practices is of common concern. A new convergence process would allow more European citizens to benefit from highly efficient economies and could provide the basis for a sustainable catching-up of both employment levels and, over the medium term, income levels in countries which are currently lagging behind.
I would also like to point out that the steady efforts of those involved in normal times, such as in developing business  BIS central bankers’ speeches  1  continuity plans and carrying out street-wide disaster exercises, greatly contributed to this robustness. III. Bank of Japan’s responses  Next, I would like to explain how the Bank of Japan reacted to the disaster.