abstract:Panarea is the second smallest (after Basiluzzo) of the eight Aeolian Islands, a volcanic island chain north of Sicily. It is a frazione of the comune of Lipari.
And the ECB is a critical pan-euro area institution -- of course it is part of that, but it's part of a broader set of actors, and is part of the set of actions that together are going to stabilize Europe and put it onto a sustainable growth path.
And its backers, including Mr. Bush, hope it will help keep hope alive among the Western Hemisphere's nations for the long-promised but repeatedly postponed Pan-American trade pact, the Free Trade Area of the Americas.