The latest forecasts for the United States are for GDP growth of around 4.5 per cent in 2004 and 4 per cent in 2005. Inflation will remain low. The consequence is a positive forecast for the world economy in the next two years.
And I’m not just referring to institutions at the national level. European institutions are not free of deficiencies either. They too need to improve. If we want European citizens to trust Europe, we need to make sure we deliver on our promises.