But before doing so, I must say that after the global economic crisis, the buzz word all over is macro-prudential supervision. It is built on the clear lessons of the crisis that a set of financial institutions that are sound on a stand alone basis is not an assurance of financial stability.
Implementation of promises and adherence to new rules is key As a result of these measures, our economic and monetary union is considerably more resilient today than it was at the peak of the crisis. The strengthening of the recovery in the past year, in spite of challenges on several fronts, is testimony to that.