Mr. Governor - Erkki, Fellow Governors, Hyvät Naiset ja Herrat, Mina Damer och Herrar, Ladies and Gentlemen,...
"...First, Finland should be proud of the role which the Bank of Finland has played, not just in its administration of monetary affairs, but also in the wider political life of the country. Monetary matters are often intricately bound up with politics. To some extent this is inevitable – what surer way is there of destroying the existing order than debauching the currency? But in a deeper sense, central banks are part of a country’s constitutional arrangements. The Bank of Finland played a crucial role in the emergence of Finland as an independent state, and will surely be just as important in future as the constitutional implications of an enduring monetary union become apparent...."
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"...As we meet on this historic Bicentennial, let us recall that we too are all experiencing a period of monetary and economic turbulence following the world's biggest financial crisis. We need to chart our way out of this crisis, and that we can do only together. In these circumstances, no country is an economic island and our salvation must be found in international cooperation. That must be built on national sovereignty. The history of Finland shows that to deny the importance of national sovereignty is dangerous. But for national sovereignty to be successful in an interdependent economic world requires a degree of trust and mutual cooperation. That has not always been present, but is more necessary than ever...."
Source: http://www.suomenpankki.fi/en/tutkimus/konferenssit/aiemmat_konferenssit/Documents/BOF200/BOF200_MervynKing_Speech.pdf?hl=gold
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