Finally, let me address a number of more practical issues associated with the transition to Monetary Union itself. In designing the Eurosystem’s strategy, the Governing Council of the ECB recognised the new circumstances faced by monetary policy in the euro area. Where there were previously eleven open, generally small economies, there is now one large, relatively closed single currency area.
I would be remiss if I do not share with you our involvement in the best-practice process of the OECD International Network for Financial Education (OECD-INFE). It is clear to us that financial education can better anchor financial stability by providing financial consumers the means to be well-informed of their financial opportunities.