*  *  *  I am deeply honored to be with you here in Guam to celebrate the 117th Anniversary of the Independence of the Philippines. This is a time of reflection. A time when we look back to honor the people who dedicated their lives to secure our freedom as a nation.
By introducing the euro, European economic policymakers have assumed the responsibility for exploiting the opportunities and for addressing the challenges this move represents for Austria or Luxembourg and for Europe as a whole. We must continue to observe the provisions of the Stability and Growth Pact, and we must demonstrate the ability to solve integration and structural policy problems to boost our international competitiveness.