2  See Board of Governors of the Federal Reserve System (2009), “Federal Reserve Adopts Policy Statement Supporting Prudent Commercial Real Estate (CRE) Loan Workouts”, press release, October 30. BIS Review 52/2010  3  We are working hard to track the progress and effectiveness of this guidance and are exploring the feasibility of more formal statistical approaches for measuring and evaluating its effectiveness.
I am confident that a well-functioning single currency, as a unifying symbol and truly European point of reference, can and will help to provide the EU with the integrative “glue” needed to face enlargement and welcome the new members, and thus to avoid the danger of diluting the integration progress achieved thus far. BIS Review 107/2000  4