jens weidmann : digital finance - reaping the benefits without neglecting the risks welcoming remarks by dr jens weidmann, president of the deutsche bundesbank and chairman of the board of directors of the bank for international settlements, at the g20 conference " digitising finance, financial inclusion and financial literacy ", wiesbaden, 25 january 2017. * * * 1. introduction your majesty your excellencies honourable members of the g20 delegations ladies and gentlemen welcome to wiesbaden and specifically to the g20 conference on “ digitising finance, financial inclusion and financial literacy "! we are deeply honoured and privileged to have with us today queen maxima of the netherlands. thank you, your majesty, for joining us at this conference. it is a coincidence, but a very apt one, that this conference is being held at schloss biebrich. this baroque castle served as the ducal residence for the independent duchy of nassau between 1816 and 1866. the house of nassau, in turn, is the parent house of the dutch royal family, as you can tell from the dynasty ’ s name, which is huis van oranje - nassau. that being said, queen maxima most certainly did not come here today to visit a castle that once belonged to her husband ’ s ancestors. rather, she is here to deliver a speech in her capacity as the united nations secretary - general ’ s special advocate for inclusive finance for development. 2. the german g20 presidency financial inclusion is without doubt an important topic because it can influence the extent to which financial services and innovations can improve our lives. and that ’ s an aim we should all be interested in. in an effort to improve the long - term global economic conditions for all, the agenda of the german g20 presidency is geared towards three objectives : building resilience, improving sustainability, and assuming responsibility. to this end, germany has set three main priorities for discussions between finance ministers and central bank governors and among the g20 working groups. 1. strengthening the resilience of national economies 2. shaping digitalisation 3. promoting investment, particularly in africa 1 / 6 bis central bankers'speeches we would like to invite you to discuss all these topics in an open and constructive atmosphere of mutual trust and cooperation. in our view the success of the g20 process depends on the conviction that international cooperation and an open markets approach provide benefits for all countries and peoples involved. it is key for our policy

risk boards are close to them on both sides of the atlantic. in other words, you trust ben bernanke will not risk a heavy depreciation of the dollar? on exchange rates i will say that excess volatility and disorderly movements in exchange rates always have adverse implications for economic and financial stability. and i consider it very important that the us authorities also recently confirmed their long - standing position that a strong dollar vis - a - vis the other major floating currencies is in the interests of the united states. but cooperation in the g20 is at a very low point. the united states will perhaps create even more liquidity ; china refuses a substantial appreciation of the yuan. between the selfish policies of the two great powers of today, europe risks the euro becoming too strong. i responded already on the united states. on the emerging economy currencies, i would say that at the toronto summit emerging economies agreed to undertake reforms to enhance exchange rate flexibility. it is the case for all of them, including for china, which has confirmed the will to engage in such reforms, as it signalled last june.