* * *  1 Introduction Mr Schnabel, Mr von Pentz, Ladies and gentlemen, Many thanks for your invitation and your kind welcome. Tradition has it that speeches at new year’s receptions look ahead at the topics we will be facing over the coming twelve months. And the speech I will be delivering here today is no exception.
Thank you, and I wish all of us a fruitful and engaging conference. 2/2  BIS central bankers' speeches