An important recent initiative was the decision of the ECOFIN-Council to establish a Committee of Wise Men in order to identify the obstacles which stand in the way of a single market in securities and consider how they might best be removed. … Let me finally briefly address the Austrian financial market as well, which forms an integral part of the euro area.
Notable improvements in the structures and procedures of Austria’s financial markets have been undertaken in the last couple of years in order to improve Austria’s competitive position.