financial market efficiency, perfect human capacities and set up a safe foundation for more sophisticated future developments. i would like to take this opportunity to emphasize that the bank of albania shall provide all its expertise to the inter - institutional group established to meeting many other fsap recommendations. we hope the commitment of other institutions, be they central or supervisory, shall be provided properly, in order for these recommendations to be accomplished in due course. i am convinced the minister of finance and me share the same objective, which is to lead our institutions to stepping this process forward, aiming at achieving a sustainable and sound financial sector development in the country. only by doing so, we could lay the grounds for a second assessment in a three - year time, which shall not only observe the accomplishment of these recommendations, but also determine new priorities towards financial system development. thank you!

activities will be adapted to provide all the necessary support for the banking activity to be safe and have multiple benefits for the banking industry, customers, and the economy in general. the professional and continuous communication with you will be at the basis of our activity, to identify together the best solutions that address your needs and those of other interest groups. dear bank managers, in conclusion, i would like to bring to your attention one of the biggest lessons learned from the crisis of the latest global financial system, which i think remains applicable for albania : concentration on short - term time horizons is counterproductive to both individual financial institutions that engage in them, and the overall financial system and economy of a country. in this context, i invite you all to be farsighted in your analyses and decision - making processes with regard to the future of the economy of albania and its banking industry. in my view as well as in the conclusions by all the analyses that focus on this issue, albania has huge potential, to a large extent unutilised, to support a sustainable economic growth, convergent to the economies of our trade partner countries in the euro area. despite shortterm difficulties, originating largely from external sources, the fundamentals of albania ’ s economic development remain sound. the macroeconomic stability, natural resources, structure and cost of the labour force, render the long - term investment in the albanian economy an investment with a guaranteed return. in invite you all to be partake in this vision ; engage even more intensively in supporting the albanian economy with loans and financial services ; and explore new areas and directions for the country ’ s economic development. i am confident that this is not only the best service you may provide to albania, but also the best strategy to ensure sustainable and profitable development of the banking industry in albania. in unison, we should not allow short - term problems to be transformed into weaknesses and lost opportunities in the long run. you will always find in the bank of albania an institution that is fully determined to comply with its objective on price and financial stability ; a fair and farsighted regulator on banking supervision ; an efficient administrator of liquidity and financial markets ; and a profoundly professional institution and provider of useful macroeconomic analyses. finally, i would like to make my most sincere wishes for a successful new year 2013 in your professional career and personal life! thank you. bis central bankers ’ speeches