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24 October 2011

Jean-Claude Trichet: Tomorrow and the day after tomorrow - a vision for Europe


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Speech by Mr Jean-Claude Trichet, President of the European Central Bank, at the Humboldt University, Berlin.


"I would like to develop three propositions.

First, while the reasons for European unity have often been presented as deriving from past conflicts and past divisions, forward-looking motivations are in my view decisive. The unique construction of Europe – with strong local identities and large, integrated markets – is a source of great strength in the new, globalised world we face. It allows Europeans to plant deep roots and build strong communities. At the same time, we can fully benefit from economies of scale and the free flow of trade and investment. For this reason, European integration is profoundly in the interests of all Member States and deeply connected to their future prosperity.

Second, for Europe to realise fully its future potential, it needs the right rules and the right institutions. Europe requires a solid form of governance to ensure that the actions of individual countries are orientated towards the common good. Our current arrangements have not yet fully met this standard. They are now being improved. It is a continuous process which will call for Treaty changes if necessary. As this process will take time, we need to start planning today for the Europe of tomorrow and the Europe of the day after tomorrow.

Third, the underpinning of a more integrated Europe is the emergence of a true European public debate. Europeans today are highly interconnected via economic and social linkages. Yet our fragmented national public discourse does not necessarily permit citizens to understand fully these connections. A true European public debate would help us deepen our interest in each other, bridge our linguistic differences, and care more about what is happening across our borders."

Full speech



© BIS - Bank for International Settlements


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