Moreover, the simultaneous review of Member States’ fiscal and structural reform policies in European fora prior to national decision making – the so-called European Semester – to be introduced as of 2011 is likely to lead to stronger and more effective follow-up and peer pressure. An ambitious EU-level programme under the Europe 2020 umbrella will complement actions at the national level.
Ladies and gentlemen, having said that let me reiterate my support to the Board of Directors and the management of the IOIB for the efforts they have been putting in so far to steer the bank out of troubles. I wish them the very best of success. Thank you. 2  BIS Review 49/2004