At the same time, they have the responsibility to ensure the smooth functioning of the common currency area. This requires further efforts in all euro area countries to make sure that, in terms of monetary policy, one size does indeed fit all. BIS central bankers’ speeches  3
In ensuring a higher growth rate, there is no doubt that we must bring about an increase in the saving rate and, consequently, the investment rate. But at the same time one cannot over-emphasise the need for improving the productivity and efficiency of input use.