It is indeed a pleasure to be here this morning to interact with you. I thank Citibank and in particular, Mr. Pramit Jhaveri for inviting me to this summit. I must say that the theme for the summit is more topical than ever before in the aftermath of the Global Financial Crisis.
Other areas, such as labour markets, remain a national prerogative. But even with initiatives on the European level, national governments are on board via the European Council. Political science teaches us that it can be an effective strategy in international negotiations to proclaim that your hands are tied because of domestic politics and it is either your way or the highway.