*  *  *  Ladies and gentlemen, It is a great pleasure for me to be invited to the 10th anniversary of the Amsterdam Institute of Finance. I wish to express my warmest thanks to the organisers for their invitation. This Institute is rightly famous for providing top-level courses in finance.
More than ever, Europe, coping with the present challenges, needs to demonstrate its sense of direction. This is no time for fatigue. This is no time for complacency. Thank you for your attention. BIS central bankers’ speeches  5