In the past year we have seen significant progress in the European economic governance framework. These changes to the institutional architecture of the EU have been of great importance for restoring the appropriate incentives of the actors involved. Increasing the numerical definition of price stability  Let me now turn to the discussion of “innovative” ideas on strategic aspects of monetary policy.
These risks have an impact on the environment in which the non-life sector operates, the financial system at large and the economy. Thus, understanding climate-related risks and opportunities will help us highlight the areas where the non-life insurance sector can play a crucial role in helping to protect livelihoods, and enhance the resilience of the financial system.