In his last State of the Union Address delivered on 12 September, European Commission President Jean-Claude Juncker proposed to strengthen the international role of the euro and highlighted the need for deeper Economic and Monetary Union. He noted that the European economy has now grown for 21 consecutive quarters; youth unemployment is the lowest it has been since 2000, Greece has successfully exited its adjustment program; and investment is back, thanks notably to the European Fund for Strategic Investments, which has triggered EUR 335 billion worth of public and private investment and is closing in on EUR 400 billion. According to President Juncker, however, recent events have brought into sharp focus the need to deepen the Economic and Monetary Union and build deep and liquid capital markets. To this end, the Commission has made a series of proposals – most of which await adoption by the Parliament and Council. Juncker also wants to see a greater international role for the euro, and before the end of the year the Commission will present initiatives to accomplish this. He would also fight money laundering more effectively across borders by reinforcing the role of the European Banking Authority.