Yves Mersch: In the run-up to an enlarged Europe Speech by Mr Yves Mersch, Governor of the Central Bank of Luxembourg, at the 6th European Congress of the Association des Cambistes d’Internationaux (ACI) (Financial Markets Association), Luxembourg, 25 May 2002.
•  Already in the first half of April, the International Monetary Fund estimated that global GDP would fall by 3 per cent in 2020, compared with an increase of the same amount forecast in January. At the start of this month, the World Bank estimated a decline of 5.2 per cent.