{video} Thank you for the opportunity to address you today. As EU Commissioner I benefitted from interactions with this Confaverence and am honored to join you again at this critical time. Jean Monnet once said: “People only act in a state of necessity and usually only recognize necessity in a situation of crisis.” We are in a crisis and it is time for action. In 2020, 90 percent of the countries finished the year with a smaller economy than at the start of it — the worst performance the world has had during peace time. But it could have been much worse. Exceptionally strong and coordinated actions by central banks ... (full story)