Given the economic weight of the world’s largest common market, home to 500 million citizens, and the importance of banks for businesses in the euro area, there might even be a net positive effect for the financial centres in the EU. Incidentally, you may have noticed that a lively competition between financial capitals in the EU has started.
Everyone is engaged in and depends on the economy, and nothing is more critical to a healthy and growing economy than the capability, creativity, and productiveness of its workforce. Whenever I am asked what policies and initiatives could do the most to spur economic growth and raise living standards, improving education is at the top of my list.