After extensive discussion and a careful evaluation, the Governing Council concluded that the revised design concept of Coop Himmelb(l)au best meets the functional and technical requirements specified by the ECB, and has features that reflect the ECB’s values and transforms them into architectural language.” [Quotation of the Press Release] On 13 February 2004 an international jury consisting of architects, Eurosystem representatives and a representative of the City of Frankfurt chose three winning designs in accordance with the following criteria, as laid down in the Competition Rules out of the 12 design concepts submitted in the Second Phase of the competition: 1. Overall town-planning, architecture and landscape;  2. Compliance with the main features of the functional and spatial programme, including modularity;  3. Feasible approach to an energy/environmental concept and compliance with the main features of the ECB’s technical requirements;  4. Compliance with the relevant rules, in particular in the field of building law and environmental law. The first prize was awarded to Coop Himmelb(l)au, Vienna; the second prize to ASP Schweger Assoziierte, Berlin; and the third prize to 54f architekten+ingenieure, Darmstadt, in cooperation with T.R. Hamzah & Yeang, Selangor. On 18 March 2004, the ECB’s Governing Council decided to invite all three prize winners to revise their design concepts in accordance with the Jury’s recommendations and the ECB’s requirements. The purpose of this Revision Phase was to remedy the remaining functional and technical deficiencies of the concepts.
Gent Sejko: Region's financial and monetary stability, ten years since the crisis outbreak Speech by Mr Gent Sejko, Governor of the Bank of Albania, at the regional summit on "Region's Financial and Monetary Stability, Ten Years since the Crisis Outbreak", Governor's Panel "Monetary policy and the stability of the banking systems in the countries of the region – a decade after the Lehman Brothers' bankruptcy", Bečići, Montenegro, 18 June 2018. * * *  Dear Guests, Fellow Colleagues, It is a pleasure to be amongst you today and to be able to share opinions on some of the most pressing challenges we are facing at the moment. I would like to focus my remarks on the topic of exchange rates. In particular, I would like to focus on how the monetary policy reaction should be based in the exchange rate movements. I take my premise from the rapid appreciation episode we experienced recently in Albania, which forced us to launch an FX purchase program as a last line of defence towards ensuring medium term price stability. To cover this topic, first I intend to briefly discuss on various monetary policy regimes. I will then discuss on the implications of exchange rate movements for inflation targeting central banks. To conclude, I will give you a short overview of recent exchange rate developments in Albania and our reaction towards them. 1. The choice and implications of exchange rate regimes  A useful starting point on this topic would be to discuss the different options we have.