*  *  *  Dear Madam Chair, Dear Honourable Members, Thank you very much for the invitation to the exchange of views today. You asked me to begin with a brief overview of the main recent economic and monetary developments in the euro area and recent monetary policy decisions. I.
And since market participants will most likely anticipate the new rules even if the later date is chosen, we may as well aim at 2015 for the BRRD to enter into force. Why is a common deposit guarantee scheme not also on the agenda? The reason is that a strong resolution framework lessens the need for it, at least for the medium-term.