18 6/7  BIS central bankers' speeches  18 Constâncio, V. (2018), “Completing the Odyssean journey of the European monetary union”, remarks at the ECB  Colloquium on “The Future of Central Banking”, Frankfurt am Main 16–17 May. In fact, the establishment of Banking Union was inspired by the American FDIC.
Buoyant growth in domestic demand, supported by high employment levels and improved terms of trade, has been substantially offset by a fall in net exports.