Lastly, it is true that, even if a reform is approved which assimilates our labour institutions to those in the more developed countries, this does not ensure the immediate resolution of our problems of growth, public finances or banking system health. More measures have to be adopted and, among them, as I have said, budgetary consolidation is key. But let there be no mistake: while labour reform is not a sufficient condition, it is nevertheless an absolutely necessary and essential one without which the other measures or reforms adopted will have a much diminished effect on the competitiveness of our economy. Thank you. BIS Review 27/2010  7
Once again, I would like to congratulate the winners, finalists and participants in this competition and, naturally, the organisers. I encourage them to sustain their efforts to boost the expansion of financial education. Thank you very much. 2/2  BIS central bankers' speeches