I hope that what I have said to you today will convince you of the urgency of this reflection, of the need to turn it without undue delay into an institutional process able to secure concrete results, in line with a clear calendar for action.
Turning to the monetary analysis, the annual growth rate of M3 increased to 2.3% in March 2011, from 2.1% in February. Looking through the recent volatility in broad money growth caused by special factors, M3 growth has continued to edge up over recent months.