Vítor Constâncio: Challenges to monetary policy in 2012 Speech by Mr Vítor Constâncio, Vice-President of the European Central Bank, at the 26th International Conference on Interest Rates, Frankfurt am Main, 8 December 2011.
*  *  *  I would like to acknowledge the substantial contributions to the preparation of this speech by Marco Catenaro, Philipp Hartmann, Oreste Tristani, Giovanni Vitale, and Guido Wolswijk. Ladies and Gentlemen, Since the introduction of the euro, our common currency, times have never been as challenging as at present.