The unremitting pressures of technology and the market are drastically changing the financial landscape and eroding traditional positions of competitors, inducing new competitive strategies and participants, forcing new regulatory responses, and building pressures on the Congress to shape developments in the public interest. Madam Chairwoman, I know that you have been an active sponsor and supporter of legislation to modernize the financial system.
It is simply a fact of life that major international currencies are used by investors from time to time as a safe haven. However, this can also be a problem in certain situations, especially for the exchange rate. But it is the future stability of the euro that will determine its actual role in the concert of world currencies.