It is that strong framework that gives businesses and investors the confidence to take risks and to innovate. We are making progress in building the framework that supports the confidence dividend. During the 1990s, we improved our fiscal and monetary policies. Now, as I have described, we’re working to make our financial systems more robust and efficient. These continuing efforts promote confidence.
I am all the more satisfied because ALGAFI gave me the opportunity to discuss an extremely interesting issue, namely the interplay between monetary and fiscal policy in EMU. For obvious reasons, I will not refer to the specific case of Luxembourg but will instead primarily talk about the European Monetary Union (EMU) as a whole.