) of users, barriers encountered when seeking formal financial services, and to provide socioeconomic and demographic characteristics of users. demand side data will help policymakers to more accurately diagnose the state of financial inclusion, agree on targets, identify existing barriers, craft effective policies, and monitor policy impact. i urge more caribbean countries to actively participate in the next round of the global findex survey and to launch their own national financial literacy education surveys, so as to better inform the design and sequencing of their financial inclusion strategies. finally, we must ensure that financial inclusion reform is “ responsible ”. financial inclusion strategies need to include sufficient focus on responsible finance, with financial capability and consumer protection as central themes. in this framework, consumers must take responsibility for their financial decisions. it is my respectful view that advancing work on establishing financial ombudsman schemes across the caribbean region is critical to building more responsible finance. conclusion in closing, ladies and gentlemen, we must recognize that the road to financial inclusion is long and challenging, but models for accelerating the journey are emerging. let me assure you all of the continued support and collaboration of the central bank of trinidad and tobago in closing the gap and reaching full financial inclusion, every step of the way. i, thank you. bis central bankers ’ speeches

peter praet : interview in les echos interview with mr peter praet, member of the executive board of the european central bank, in les echos, conducted by ms isabelle couet and ms catherine chatignoux on 25 september 2017 and published on 29 september 2017. * * * the german election is over. in your opinion, does the result hamper the chances of reforming the euro area? what ’ s important for us, beyond countries ’ electoral calendars, is a stable currency and stable prices. today, the institutional reforms needed to strengthen the euro area after this decade of crises must be successfully completed. the sovereign debt crisis of 2010 – 12 exposed the euro area ’ s weaknesses, in particular the lack of a single system of banking supervision and a collective crisis management mechanism. in terms of european governance, what is the priority? the priority is to finalise the banking union, in other words to truly break the bank - sovereign nexus. it is commendable that financial institutions have reduced their exposures to the public debt of their respective countries since the crisis. however, banks are still too exposed to their domestic economies. the banking union is currently still too much of a collection of national banking systems. the euro area has established a single supervision mechanism for the banking sector and the basis for a single resolution mechanism for distressed banks. but, in the case of public intervention, too much of the ultimate responsibility still remains at national level. a genuine single resolution fund needs to be set up, without delay, at european level, to ensure the stability of economic and monetary union. in concrete terms, how do we get there? the banking union will remain incomplete for as long as each banking subsidiary in a country is obliged to fulfil all the conditions regarding capital and liquidity. the aim of the banking union is for banks to be able to manage their balance sheets as a single entity, regardless of their location in the euro area. the strategy for getting there is a combination of reducing banking risks, in particular by strengthening regulatory requirements, and increasing the power of the single resolution fund. unfortunately, a binding timetable that would entail a fundamental reconfiguration of the european banking landscape has met with reservations. but it is key to ensuring the stability of the european banking system and the successful transmission of the ecb ’ s monetary policy decisions. so do you support the creation of a european monetary fund? yes, this is the other main priority for the euro area.