I would like to give you a brief overview of the current situation in Germany and the euro area. I am particularly looking forward to discussing these issues with you and hearing your perspective. Mutual exchange is essential in a globalised world where countries are no longer isolated islands but part of a closely interconnected community.
Although I would have preferred a different course of events, even if that would have meant a less topical conference today, it is quite clear that the current crisis poses important challenges for monetary policy.