maiava atalina ainuu enari : educating individuals to manage their personal finances opening remarks by ms maiava atalina ainuu enari, governor of the central bank of samoa, at the moneypacific “ money guide ” launch, apia, 2 april 2014. * * * members of the diplomatic community youth and education directors of the church denominations present today our moneypacific partners – kim hailwood and becky de beer - lamont distinguished guests ladies and gentlemen it is indeed an honour for me to address this gathering today, at this important milestone in the partnership of the moneypacific project and the central bank of samoa. the moneypacific project was established in 2007 under the umbrella of the nz - pacific remittances ’ project which stands to help reduce costs of sending money within the pacific region, and has concurrently worked hard to lift pacific communities awareness of the need to prudently manage their personal finances. we have worked closely with the moneypacific programme over the recent years and we consider them a great ally in the promotion of financial inclusion and financial literacy here in samoa. in a moment kim and becky will elaborate more on the moneypacific initiative and its latest resource but before that i would like to take a few moments to talk a little bit more on why financial literacy is important to the central bank of samoa. “ financial literacy ” or “ the set of skills and knowledge that allows an individual to make informed and effective decisions with all of their financial resources ” is an important life - skill in our diverse capacities as students, employees, consumers, savers and investors etc. by now you may wonder as to why how you manage your personal finances is of any interest to the bank? you may wonder as to why the bank should care on how best you can manage your personal finances? the answer is simply this – we believe that economic development can be fostered by educating individuals on how best to manage their personal finances. we don ’ t have to rely on the big businesses or other forces for this – each and every one of us has the potential to foster economic development. therefore we stand before you today not as leaders or dictators of your wallets and purses, but as counterparts on a way to forward our future financial prospects. and so it gives me great pleasure to introduce to you a tool designed to help you take charge of your personal finances and take you closer to realizing your full potential as agents of economic development – the moneypacific money guide

, the legal doctrine of “ constitutional identity ” morphs into a political question. there is then a risk that sovereignty becomes an ideological concept. such “ sovereignism ” clashes with any attempt at further “ completing europe ’ s economic and monetary union ”, a report prepared by j. - c. juncker, in close cooperation with d. tusk, j. dijsselbloem, m. draghi and m. schulz, 22 june 2015. bis central bankers ’ speeches european integration. it could result in a failure to complete the european integration process. it should not be used as an excuse to opt for intergovernmental arrangements where supranational solutions would be more conducive to achieving a genuine economic and monetary union. the european integration process has demonstrated that democratic states can share sovereignty in a number of policy areas without losing statehood. nevertheless, we need to take into account that some policy areas do need a higher degree of democratic legitimacy and parliamentary control at the national level than others. this reasoning in no way supports those championing a national or constitutional identity. rather, it illustrates the need for different approaches to the respective policy areas, especially as the concept of constitutional identity has not only hampered deeper integration but risks winding back earlier achievements. as jaap hoeksma, philosopher of law put it, “ the transition of the eu from an international organisation to a european democracy has proceeded faster than most euro - sceptics ” predicted ; at the same time, “ the quality of this [ … ] democracy [ still ] needs more improvements than euro enthusiasts tend to assume ”. 4 hoeksma, j., op. cit. bis central bankers ’ speeches