The nature of your meeting and the current favourable prospects for a sustained recovery in Europe suggested to me four issues on which I would like to share some thoughts with you: First, how can financial markets – and the banking system in particular – promote faster and sustained economic growth in Europe?
Second, and more specifically, how can increased integration, competition and development in Europe’s financial markets foster innovation and productivity growth, which are crucial for enhancing Europe’s growth performance? Third, how far have we advanced in reaping the benefits of a more integrated and developed financial system? And, what can we do to speed up this process?