Senad Softić PhD Governor, Central Bank of Bosnia and Herzegovina Conference: Macroeconomic Imbalances and EU Convergence 07 November 2019 Welcome speech and opening of the Conference  Dear friends of the Central Bank of Bosnia and Herzegovina, distinguished panelists, dear guests, dear colleagues, a very good morning to all of you.
It is my great pleasure to welcome you to Sarajevo, to another international research conference of the central bank, jointly organized with the USAID FINRA project. A number of experts have agreed that large macro imbalances were the main cause of the Euro area crisis. The EU has reacted with many institutional and organizational changes.