In line with our mandate, the Bangko Sentral works on providing an operating environment where stability is the hallmark of price movements and the financial system. The objective is to create conditions that are conducive to a balanced and sustainable growth of the economy. Promoting macroeconomic stability is crucial because it serves as a solid springboard for households and businesses to flourish.
I think I can say that both our institutions are looking back on a decade of challenges successfully mastered. During the ten years of the Eurosystem’s existence, and  BIS Review 138/2008  3  in particular during the recent months of financial crisis, we have proven that the Eurosystem functions well, even in periods of great stress.