*  *  *  Mr. Chairman, Governors, Ladies and Gentlemen: We are very pleased to see increasing evidence of the global recovery, with growth rates in most regions exceeding original expectations. While this is apparent in the world’s major economies - the United States, Europe, and Japan - economic growth rates in the developing countries and many regions have also been remarkable.
So be warned: my review of this conference and its impact might be slightly positively biased! But nevertheless, my primary conclusion is very likely to be undisputed. For good reasons, the ECB watcher conferences organised by the CFS have become a central part of the yearly agenda for everyone interested in a serious monitoring of European monetary policy.