BIS central bankers’ speeches  3  Lately, efforts have been made towards a closer regional integration, making the region more attractive to potential foreign investors. With a deeper regional integration, a better anchoring in the EU convergence process and more funding, the Eastern and Southeastern Europe has much to offer to Europe and to the global economy. The periphery of the euro zone or the future new members provide many attractive investment opportunities in development projects in infrastructure, trade, exploitation of natural resources, energy and production capacities. Most importantly the development of these strategic sectors is designed within the framework of the European development plans and the future to be larger European economy. Therefore investing in the region would mean to invest in the future of the European economy itself. Dear Participants, A prosperous and integrated European Economy and confident single currency provides a better anchor for the future of our economic, financial and institutional convergence and therefore additional benefits for the European economy itself. European economy is an important partner in global scale, accounting for a substantial share of global demands, financing, education and technology advancement. The strength of European economy is mutually beneficial for Europe and its partners, including China. Considering the past and the present state of economic, social political and intellectual affairs, I remain firmly convinced in the ability of the Europe to rise up to current and future challenges to reintroduce itself as the land of opportunity and prosperity.

Ardian Fullani: China-Europe economy – future challenges and opportunities Address by Mr Ardian Fullani, Governor of the Bank of Albania, at the China-Europe Economists Symposium on “China-Europe economy – future challenges and opportunities”, Tirana, 17 January 2013. *  *  *  Dear Mr. Chairman, Dear Colleagues, Ladies and Gentlemen, It is a great pleasure for me to participate in this Symposium. The rapidly evolving economic landscape of the past few years poses to policy-makers a demanding set of challenges and opportunities. I am sure that the honest and productive exchange of ideas will facilitate a deeper understanding of the problems we are facing and will allow us to design more appropriate strategies for overcoming them. Introduction Our topics of discussion today focus on the performance and prospects of China and Europe, the two economic regions which probably are at the opposite ends of the spectrum of contagion from the global crisis. While China has remained largely unaffected, Europe has suffered significantly. The crisis exposed fundamental structural and institutional weaknesses in the Eurozone and the EU. In my short address, I will concentrate on the current state of Europe’s economic and financial situation. It would be almost an understatement to define the past, the current and the expected developments in the Europe, as difficult and short-term. The so-called “Great Depression” tested the Eurozone and the European economy. EU convergence process proved to be incomplete, from economic and institutional point of view.