of western balkan countries as regards economic indicators, in light of a common area and its future challenges. the first prize is awarded to borana angjeli, an ma student of marin barleti university in tirana for her dissertation “ pension systems ”. drawing on results from a survey to employees close to their retirement, the thesis points out some of the shortcomings of the pension system in albania and makes recommendations on changes to the actual pension scheme, in line with european principles, without being a heavy burden for the state budget. thank you! bis central bankers ’ speeches

information from the bank of albania, whose decisions were covered professionally. the media has been active also in promoting reflection by stakeholders. media has supported bank of albania policies, forestalling dissemination of uncertainties amongst the public. the self - adjusting attitude has been another important element in media ’ s activity. the alarming effect has been cancelled successfully by thorough analysis of news items, providing nuances of the truth beyond excesses and speculations. a fresh example of this responsible behaviour is the eur / all exchange rate fluctuation at the beginning of december this year. some “ panic ” was caused amongst the public by earlier media reports and analysis, which were later considered by the media itself as an unreal exchange rate volatility. dear participants, at the conclusion of my address today, i would like to draw your attention on a consolidated annual publication of the bank of albania – our calendar 2012, the jubilee year of the 100th anniversary of albania ’ s declaration of independence. calendar 2012 features a cycle of contemporary works of art, which elegantly combine traditional and modern elements. this artistic ingenuity provides a varicoloured and loyal depiction of the long and toilsome journey of the bank of albania and the lek through good and bad days, times of war and peace, subtle and radical changes. these fellow travellers have always succeeded in renewing and strengthening their shared foundation, which is your trust and confidence. this thread sews together in this calendar, art and the bank of albania, as two components that create, uphold and promote values. the calendar is an artful portraying of our central banks traits such as stability, independence, confidence, transparency and financial literacy, which nourish our dream of a common european future. this future rests in our hands like a golden globe of prosperity and happiness. bis central bankers ’ speeches thanking you for your attention, allow me to announce the winners of the best diploma awards for 2011 : the third prize is awarded to ardit azizaj, an ma student of the new york university in prague, for his dissertation “ what albania ’ s possibilities are, in future, regarding the world division of labour? ” his dissertation focuses on the impossibility of a country to transform its economy successfully from a poor and centralised to a developed economy. the second prize is awarded to ledia sulejmani, a student of the university of tirana for her dissertation “ economic developments in western balkans, future challenges. ” her dissertation describes distinctions and characteristics