In particular, the countries should link the age of retirement to demographic change and the development of labor costs to the corresponding gains in productivity. Furthermore, a reform of the Stability and Growth Pact aims to enhance the surveillance of fiscal policies. For observers outside Europe this variety of decisions and instruments may appear puzzling or, at least, complex and complicated.
In this regard the Bank hosts the Christian Community to the Christmas thanksgiving we host the Muslims to the Eid celebrations. Let me once again assure you that the Bank is committed to hold this Eid-El-Fitri celebrations every year.