In the context of the Single Market, the establishment of a single currency was the way to ensure that citizens would benefit in full from all the functions of money. Far from removing money from people, monetary union has given it back to them. A second contract That the euro has economic origins does not reduce its significance as a social contract.
The slide shows the situation in 2004, where we are now, and our target for 2012. The target for divisional directors is set at 25%, for department heads at 30% and for section heads at 40%. DNB’s Governing Board has expressly committed itself to these targets and the Supervisory Board is given an annual update on progress towards them.