Not only would these reforms raise potential economic growth, but they would also make the European economies more flexible and thereby strengthen the resilience against economic shocks. This in turn would facilitate the pursuit of stability oriented macroeconomic policies. Concluding remarks Ladies and gentlemen, you are gathered here to discuss the way ahead in order to increase competitiveness and economic growth.
In conclusion, let me once again stress that the maintenance of price stability, low medium and long term market interest rates, thanks to this stability, and financial integration are key successes of the Economic and Monetary Union as well as fundamentals conditions to enhance sustainable economic growth, employment creation and welfare.