I appreciate this opportunity to discuss, in this forum, recent developments in the euro area economy and its prospects for the future. Talking about the state of the economy and economic prospects is demanding. Not least, it requires being able to articulate sound forecasts of future developments – which as you all know very well – is a particularly daunting task.
Coping with the “Bank Different” credo of AfrAsia has itself been a learning experience for the Bank! We must continue on this path, enhance our supervisory agility, and step up our processes to remain effective in our oversight functions. Wherever  2  BIS central bankers’ speeches  possible, the Bank must catalyse change in our jurisdiction. Let me mention three such Bankdriven catalysts.