With respect to economic growth, which usually receives a particular amount of intention, we are seeing a strong economic recovery in some countries, particularly in Germany. By contrast, some countries at the geographical periphery of the euro area are suffering from persistent structural problems. Whether or not this poses a problem for the ECB Governing Council is something I shall discuss later on.
By responding to the challenges we are facing today and by acting together regionally and internationally like at this forum for our economies, we policy makers can replace uncertainty by clear action, hope and confidence. Only this way can we be certain of tomorrow's financial stability and robust economic growth.