This is the “homework” that we have to do in the euro area, as reaffirmed in the most recent G7 Communiqué. And we are committed to facing up to these challenges so that the euro area can become a key contributor to a more balanced pattern of global growth.
But I would like to emphasise again the paramount role of domestic policies in general in resolving global imbalances: I am referring to policies aimed at encouraging savings in the United States and policies that can boost domestic aggregate demand in surplus countries.