At present, coherent intra-regional exchange rates for the Latin American region as a whole depend, inter alia, on whether the inflation target strategy recently adopted by Brazil will contribute to realistic and stable exchange rates of the Brazilian real vis-à-vis the US dollar. Conclusions I shall bring this talk to a close by drawing three main conclusions.
An important contribution to strengthening growth prospects in the euro area should also come from fiscal and structural policies. Determined reform efforts are needed in these policy areas to increase incentives for investment and employment creation in the euro area.