*  *  *  Dr Esser (Managing Director, ZEIT Verlagsgruppe), Dr Raettig (Vice-President, Chamber of Commerce and Industry, Frankfurt am Main), Ladies and Gentlemen, I would first like to thank you for inviting me to deliver the closing speech of this high-calibre conference.
I would do an injustice to the participants in the previous two panel discussions if I attempted to sum up the day’s deliberations. Instead, I’d like to conclude by linking together financial market policy, which has already been discussed at length today, our monetary policy and the overall functioning of Europe’s Economic and Monetary Union.