jean - claude trichet : interview with china finance interview by mr jean - claude trichet, president of the ecb interview with china finance, 16 february 2009. * * * china finance : at ten years, how would you assess the successfulness of euro both in terms of bringing about benefits to the eurozone economy and as an international currency? mr trichet : since the introduction of the euro, fellow europeans have enjoyed a level of price stability which previously had been achieved in only a few of the euro area countries. this price stability is a direct benefit to all citizens. it protects incomes and savings, and helps to bring down borrowing costs, thus promoting investment, job creation and prosperity over the medium and long term. the single currency has been a factor of dynamism for the european economy. in recent months we have seen another benefit of the euro : the financial crisis is demonstrating that in turbulent financial waters it is better to be on a large, solid and steady ship rather than on a small vessel. however, the euro was not created to either compete with any other international currency. we are not campaigning for the international use of the euro. the euro was created in order to achieve the single european market. for me, the greatest success is the fact that, after having promised the citizens that the euro would be equal, in terms of stability and the maintenance of value, to the previously most solid currencies, we have fulfilled this promise effectively. china finance : what needs to be done to meet the challenges to the credibility of euro posed by persistent dispersions of inflation, current account deficit and public finance among the member economies? trichet : the first 10 years of the euro has brought low levels of inflation overall in the euro area, lower than the levels in the individual countries before. the existing differences are no bigger than if you compare differences in price levels, for example, between various states in the united states, which is as you know similar in size to the euro area. the single currency also enhanced price transparency, increased trade, and promoted economic and financial integration within the euro area and with the rest of the world. as for public finances, the stability and growth pact was created precisely to substitute for a more uniform fiscal arm of the euro area. as you are aware, there was an agreement reached in the eu late last year to provide fiscal stimulus corresponding to the current economic slowdown, however, on behalf of the governing council i reiterated several times that these packages should

jorgovanka tabakovic : taking knowledge to a higher level in serbia speech by dr jorgovanka tabakovic, governor of the national bank of serbia, on the occasion of signing of the memorandum of cooperation between the national bank of serbia and the faculty of economics in belgrade, belgrade, 27 january 2016. * * * dear colleagues, esteemed mr. boricic, esteemed members of the press, allow me at the beginning to answer four simple questions. why is this memorandum signed today by mr. boricic, as the dean of the faculty of economics, and myself, as the governor? because, by definition, it is the top manager's task to be in command of the future, finance and human resources. this is and has been the responsibility of the head of an institution. why are we signing this memorandum today, three and a half years into my term in office? because all informal channels, personalities, letters of reference have so far turned out to be an insufficient guarantee that we would get the best people. yes, some came and have stayed, but there are also many who came and left. many of those for whom the nbs was just a stepping stone, a training ground, and, in the worst - case scenario for this country, a reference for a future elsewhere, outside serbia. after signing this memorandum, we will have a chance to select “ the best of the best ” and ensure they stay with the national bank of serbia. how did the memorandum come about? it was at the initiative of the young people from the faculty of economics who are here with us today. they knocked on our doors introducing themselves as the team for serbia. the team. and for me, this was the key word. because, the solution lies not in genius individuals, but in the genius of a team of individuals. a team with a leader – yes, a team at the top – no, and this is why we are here today and why we are signing this memorandum. this meeting is motivated by the basic needs of men : to learn, to progress and to create. and why do we need each other – the faculty of economics in belgrade and the national bank of serbia? because there is no alternative to knowledge. and because in order to add value and improve by practice, you must have something of value to start with. during summer practice in the nbs, students are given a chance to improve on the qualities they already demonstrated during