6  BIS central bankers’ speeches  And third, the ministry would represent the euro area in international financial institutions. Since my Karlspreis address, it seems to me that the case for such an approach has strengthened. I now hear leaders calling for a Treaty change to create stronger economic governance at the EU level.
I hear euro area citizens calling for better supervision of the financial sector. And I know that our partners in the G20 look to Europe as a whole for solutions, not to individual Member States. Increasingly, it seems that it is not too bold to consider a European finance ministry, but rather too bold not to consider creating such an institution.