In Malaysia, almost half of foreign direct investment into our country originate from the regional economies. In addition, Malaysian corporations have also in recent years increased substantially their presence in the region. The success of intra-regional investment reflects the competitiveness and dynamism of Asia. A more recent phenomenon is the increased financial integration. As this occurs, it will result in a more efficient recycling of Asian savings into investments within Asia. Given that Asia will need about USD8 trillion in infrastructure development over the next ten years, the effective channelling of Asia’s large pool of savings into productive uses within the region will be important to support growth and development in Asia. Deeper financial integration within Asia is already occurring as financial markets in Asia become more developed and mature. Regional efforts are being intensified to accelerate this process, including in developing the regional bond markets. Policymakers in Asia have also come together in ASEAN+3 and the Executive Meeting of East Asia Pacific (EMEAP) groupings to promote greater cooperation in maintaining regional macroeconomic and financial stability. The more volatile and unstable international financial and economic conditions have called for the need for greater regional surveillance for the early detection of risks to the region. These have now been put in place including mechanisms to enable the region to cope with rising uncertainties. Through EMEAP, regional collaboration on surveillance has been enhanced to strengthen the region’s vigilance and  2  BIS Review 43/2010  resilience against potential crises.
Yves Mersch: Unveiling the new € banknote Speech by Mr Yves Mersch, Member of the Executive Board of the European Central Bank, at the unveiling of the new € banknote, Frankfurt am Main, 13 January 2014. *  *  *  Ladies and Gentlemen, Thank you all for coming here today to the unveiling of the new ten euro banknote. We shall also be announcing the date of its introduction. Before we do that, let me briefly explain why we consider the issuance of a new banknote to be an important event. First of all, it’s a chance to consider how Europe’s single currency has grown. Euro banknotes and coins started circulating in 12 European countries on 1 January 2002. Today, 18 countries and 334 million people use the euro in their daily transactions. You can travel from Riga to Rome, or from Barcelona to Bratislava, and use the same notes and coins. Today is also an opportunity to take a look at what the euro symbolises. 12 years after the euro banknotes and coins were introduced, it’s easy for us to take them for granted and to forget what an ambitious, even bold, project it was to introduce the euro. The single currency has helped to bring millions of Europeans together, in all our diversity, and the banknotes and coins are a tangible symbol of our determination to support the European Union. When we say, “The Euro. Our Money”, we really mean it! And not just in Europe.