Senad Softić: Macroeconomic imbalances and EU convergence

Welcome speech by Mr Senad Softić, Governor of the Central Bank of Bosnia and Herzegovina, and opening of the Conference "Macroeconomic Imbalances and EU Convergence", Sarajewo, 7 November 2019.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Dear friends of the Central Bank of Bosnia and Herzegovina, distinguished panelists, dear guests, dear colleagues, a very good morning to all of you. It is my great pleasure to welcome you to Sarajevo, to another international research conference of the central bank, jointly organized with the USAID FINRA project.

A number of experts have agreed that large macro imbalances were the main cause of the Euro area crisis. The EU has reacted with many institutional and organizational changes.