Welcome to the Karl Brunner Distinguished Lecture. This year marks the tenth anniversary of the event. For this special occasion we have invited a truly outstanding speaker: Mario Draghi. I am very honoured that Mario Draghi has accepted our invitation. But this year is also special for a different reason: This is also the last Karl Brunner Distinguished Lecture for Joël Mesot as ETH President. Joël will soon step down from this position. He has always been a great supporter of this event. I would like to thank you, Joël, as well as ETH Zurich, for your kind hospitality over the years. We look forward to working with his successor, Günther Dissertori. The SNB started this event in honour of the Swiss economist Karl Brunner.
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