It has contributed to a further integration of Europe’s economies and I do not forget that as soon as 1 January next year we will be 17 countries and more than 330 million fellow citizens. Challenges for Economic and Monetary Union But as its name indicates, our Economic and Monetary union rests on two pillars: an economic pillar and a monetary pillar.
Turning now to the work of the Network for Greening the Financial System. There are 65 central banks and supervisors from all over the world who are members of the NGFS and there are 12 observers that are doing much more than just observing; they are very active. The IMF, World Bank, BIS, OECD and many more.