4/5  BIS central bankers' speeches  The well-educated benefit from international trade, open borders and new technological opportunities. Education is key if we want to create equal opportunities. We have to take action here if we are to pass Theodore Roosevelt’s “test of progress”. Conclusion Ladies and gentlemen, Europe is a target of criticism – no question about that.
In my talk I have concentrated on economic issues and concluded that: First, monetary policy must get ready for better times. Second, reforms are necessary to ensure our well-being – and now is the best time for this. Third, prosperity must be of benefit to all – equal opportunities are crucial.