When I refer to increased European co-ordination of structural policies, I certainly do not wish to imply that structural policies must be harmonised. I would even say that this is undesirable. Economic structures in the individual Member States are still rather divergent, and improving the functioning of these structures often demands different solutions and policies, depending on the countries concerned.
BIS central bankers’ speeches  3  The Philippines presents excellent relative value Ladies and gentlemen, the Philippines means business. While the challenges to the investment environment appear formidable, our collective vigilance and prudence will help us achieve our objectives of sustainable growth, as well as stability. I trust that the BSP can further engage you in pursuing the economic agenda of the Philippines.