Conclusion We are at a critical and exciting stage in our journey to the first ISO 20022 migration, which that will lay the foundations upon which to build the payments industry that is fit for the future. I want to thank the industry for your engagement and inspiration to date and encourage you to prepare. The building of Stonehenge was a feat of engineering and innovation. It also demonstrated how much people working together for a collective purpose can achieve. Now through our collaborative endeavours we can achieve our vision for the future of payments. Bringing real benefits to all users of payments. And shaping the payment landscape of tomorrow. I’ll leave you with a quote from Albert Einstein: “Innovation is everyone’s responsibility, not just R&Ds.” I am grateful to Jason Gorner, Sita Mistry, Sophie Dalzell, Lisa Donohoe, Samantha Leighton and James Southgate for their help in preparing these remarks.
Full and consistent implementation of the Stability and Growth Pact over time and across countries remains crucial to ensure confidence in the fiscal framework. At the same time, it is essential that all countries intensify efforts towards achieving a more growthfriendly composition of fiscal policies. We are now at your disposal for questions  2/2  BIS central bankers' speeches