The President has an important role, of course, but the overall approach and philosophy of the ECB is unlikely to change at the end of the year. Some European politicians deplore that the lack of speedy progress on eurozone reform means that the monetary union is ill-equipped to face another potentially serious shock. Do you share their pessimism?
I would like to thank Luxembourg for Finance for this opportunity to say a few words on the recent, rapid emergence of the renminbi as an international currency. Its new-found status is the result of China’s economic performance and part of a wider ongoing reform process in the country.