Ongoing structural reform will be particularly important with regard to the changing character of jobs in an economy which needs to be open to rapid advances in new technologies and globalisation. The Governing Council feels that the first 22 months of Monetary Union have been very successful.
It is determined to continue addressing the challenges related to monetary policy and is confident that other policy areas will play their part in the overall policy framework of the Community and the euro area. BIS Review 89/2000  2