For instance, we now have a much stronger and more integrated framework for financial regulation, supervision and crisis resolution. You played an essential role in bringing this about. And the framework has also helped contain any financial stability risks that may emerge during a long period of low rates. But more progress can and should be made.
The ECB warned that if the increase in oil prices is sustained, it would also have an impact on inflation rates during the rest of 2002. In the United Kingdom, for 2001 as a whole, real GDP growth averaged 2,2 per cent, the highest among the G-7 countries.