This naturally also includes the provisions relating to Economic and Monetary Union. In particular, legislation will have to be put in place that ensures the full independence of central banks. In this respect, I noticed with some concern recent episodes in some countries which confirm the need for more stringent legislation on central bank independence.
At the same time, our system of higher education was also responding to the advances in economic processes. Although many states had established land grant schools earlier, support for these schools accelerated in the late nineteenth century as institutions located in states that specialized in agriculture and mining sought to take advantage of new scientific methods of production.