PRESS RELEASE
Eurosystem and Mediterranean Central Banks Meet for the Fifth Euro-Mediterranean Seminar - The Central Bank of Albania Participates for the First Time

The Governor of the Bank of Albania, Mr. Ardian Fullani, attended the fifth high level Euro-Mediterranean seminar, which was held in Alexandria, Egypt, on 27 November 2008. This annual seminar, which brings together Eurosystem and Mediterranean central banks - non-Euro area member states -, was jointly organized by the Central Bank of Egypt and the European Central Bank (ECB).

The seminar was attended by high level representatives of the Eurosystem, including Mr. Jean-Claude Trichet, President of the ECB, Mr. Lorenzo Bini Smaghi, Member of the Executive Board of the ECB, as well as by governors and high level representatives of the central banks of Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, Netherlands, Portugal, Slovenia, Spain, Algeria, Egypt, Israel, Lebanon, Libya, Mauritania, Morocco, the Palestinian National Authority, Syria, Albania and Turkey.

Representatives of the European Commission and the European Investment Bank also attended the seminar.

The fifth seminar confirmed the previous commitments of a periodic and regular forum, which generates active and continuous discussions on issues of common interest for the Mediterranean countries. This year's seminar focused on recent economic and financial developments in Mediterranean countries, on monetary policy strategies and exchange rate regimes, and on the latest trends in the banking sectors, with a particular focus on the implications of the global financial turmoil.

This was the first time for the central Bank of Albania to attend this seminar. In addition, the seminar participants welcomed the organizers' proposal for Albania's full participation in this forum's future meetings.

In his speech, Mr. Ardian Fullani, Governor of the Bank of Albania, introduced the seminar participants to the recent economic and financial developments in the country and dwelt on the banking system's situation at home. Being in the same line with his recent addresses to the public, Mr. Fullani underlined the fact that the banking system does not prove to be affected by the international turmoil, while the plausible future risks mainly relate to the performance of real economy.

As also stated in the official press release on this seminar, Mr. Fullani underlined the importance of facilitating the private sector's access to credit, agreeing that it will support the economic growth and enhance the further integration of the Mediterranean region into the global economy.

Please click here to read the Press Release on the Fifth Euro-Mediterranean Seminar.