Speech by Frank Elderson, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, State of the Union conference organised by the European University Institute

Florence, 5 May 2023

Many thanks for inviting me to address this conference along with so many esteemed speakers. As the cradle of the Renaissance, Florence has a long history of attracting people from different disciplines across Europe. The most gifted individuals in the fields of art, science, politics and finance have long come to this city to make a difference, together unleashing creative forces of a magnitude greater than the sum of their already impressive individual contributions. Just as we have come to Palazzo Vecchio today to unlock the creativity required to address the multidimensional challenges that are affecting the state of the European Union. My contribution will focus on the most pressing challenge requiring urgent action: the ongoing climate and environmental crises.

The…