A full, transparent and consistent implementation of the Stability and Growth Pact and of the macroeconomic imbalance procedure over time and across countries remains essential to increase the resilience of the euro area economy. Improving the functioning of Economic and Monetary Union remains a priority. The Governing Council urges specific and decisive steps to complete the banking union and the capital markets union.
The Greek philosopher Aristotle once said that “we are what we repeatedly do. Excellence, then, is not a singular act, but a habit.” I hope therefore that you will focus on your assigned task at all times. Mayroon pa akong isang paalala: mahalaga rin na marunong kayong kumi-latis ng tao at magbigay galang.