And fourth, the Treaty stipulates that even general exchange-rate orientations, which may be formulated by the Council of Ministers in special situations, must not jeopardise the primary objective of the ECB (namely, ensuring price stability). The stipulations of the Maastricht Treaty did not just drop from heaven or come from narrowminded technocrats.
Nevertheless, I strongly believe that, at this one-and-a-half day conference, we will address the issues we currently face and find our way forward through lively discussions.