the euro exhibition, now on display in its sixth location, is to give citizens of all ages the opportunity to learn about the euro. the exhibition provides information on the designs of the euro banknotes and coins. the seven different denominations of the euro banknotes represent our common heritage, showing different european architectural styles from different ages. the banknotes also depict bridges, which symbolise the connection between the people of europe. the exhibition also explains the history of money, as well as the technologically advanced security features, which make the banknotes difficult to forge, but counterfeits easy to recognise. genuine and fake banknotes are on display, and the exhibition also comprises interactive elements and films. in addition, there is a kids ’ corner, which features some more fun ways of learning about the euro, but is by no means only for children! dear governor mersch, your excellencies, ladies and gentlemen, i sincerely hope that you will enjoy your visit to the euro exhibition. it is a pleasure for me to declare the exhibition open.

in place for settlement of bank customers ’ complaints and claims. under the existing two - tier complaints system, in the event of a dispute bank customers must first contact the bank concerned, which must necessarily have a customer service department or unit. if they are not satisfied with the response received, they may then apply to the claims departments of the financial supervisors – the banco de espana, the national securities market commission ( cnmv ) or the directorate general of insurance and pension funds ( dgsfp ), according to the subject - matter of the claim – which will issue a non - binding opinion. this system has several problems. on the one hand, it is not sufficiently flexible to provide customers improperly treated with due satisfaction in a reasonable period of time. and on the other, there is no arrangement in place for a third party to issue an opinion that is binding on banks if they are unable to reach an agreement with their customers. accordingly, consumers are all too often obliged to go to the courts to obtain due reparation. certain regulations recently passed in spain, such as law 10 / 2014 of 26 june 2014 on the regulation, supervision and solvency of credit institutions, and law 5 / 2015 of 27 april 2015 on the promotion of business financing, include provisions designed to foment improvements in the existing institutional arrangements for customer protection. in any event, irrespective of any present or future legislative changes in this respect, i believe that banks have the capacity to drive improvements in the short term. for the moment, they appear to be readier to comply with the non - binding opinions issued by the banco de espana ’ s claims system. in addition, it would be appropriate to consider the possibility of developing centralised and binding dispute settlement arrangements, such as those in place in other european countries, possibly with the participation of the industry, to correct the shortcomings of the present system. bis central bankers ’ speeches 6. final thoughts let me finish by saying that in mid - 2010, at the height of the financial crisis, alexandre lamfalussy, one of the architects of european monetary and financial integration, with whom i was fortunate enough to work with in the mid - 1990s and who passed away just a few days ago, ended one of his last public speeches as follows : all the actors – central banks, governments, international organisations and, naturally, market participants – are navigating in waters uncharted by reliable historical experience. the complexity of the current situation is