*  *  Introduction  My speech today will cover a number of topics, starting with the most recent capital market developments before moving on to monetary policy and economic policies that can make Europe more prosperous. 2.
Recent capital market developments  The recent volatility in the bond markets reminded me of James Carville, an advisor of Bill Clinton, who once said: “I used to think if there was reincarnation, I wanted to come back as the president or the pope or a .400 baseball hitter, but now I want to come back as the bond market.