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Good morning ladies and gentlemen. Although my name appears in the conference programme I dared to ask a few of our colleagues and associates to present what we are going to talk about. I, like you, will be a listener. This is because first of all, we are an international corporation, and secondly, because the project we want to present to you was carried out thanks to international co‐operation.

Good morning ladies and gentlemen. I have come to the conclusion that all great events result in other great events. However, the rule is that first there will be great political events and then either more political events or economic ones. And so in 1944 at the end of the Second World War a few clever people started to think about establishing an international monetary order. In this way in 1944 the idea was outlined to create the International Monetary Fund and the International Bank for Reconstruction and Development, which is now called the World Bank.