It is therefore crucial that all parties concerned meet their responsibilities and that second-round effects be avoided. In addition, the explicit or de facto indexation of nominal wages to prices should be reduced and ultimately eliminated. The monetary analysis confirms the prevailing upside risks to price stability at medium to longer-term horizons.
In life our fortunes are seldom static. Changes occur. My final message to you today is to realise that nothing stays forever. Be flexible and be brave to leave your comfort zone to seek out new opportunities which are there to those that search them out. I wish you well in your deliberations. Thank you. 4  BIS Review 28/2009