Smaghi: challenges facing EU

"The EU (European Union) will be confronted with three major challenges: rapid technological change, globalisation and an ageing population," Lorenzo Bini Smaghi, member of the executive board, European Central Bank (ECB), said.

In a speech on 5 July on "The future of the Treaty: implications for economic governance in Europe," Smaghi said about the Economic and Monetary Union in Europe (EMU), "It has been generally acknowledged that monetary policy has been a success. I see three basic reasons

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