In an exclusive interview with Yves Messarovitch, Jean Lemierre, who has been President of the European Bank for Reconstruction and Development since 2000, notes his satisfactions with the changes achieved in Eastern Europe since the fall of the Berlin wall. As eight former Comecon nations prepare to join the European Union, he nevertheless warns against crying victory too soon. The transition is far from over. Furthermore, the economic convergence needed to prepare them for membership in the euro zone is still in its very early stages. The countries continue to have considerable needs in terms of infrastructures and productive investment. In addition to aiding major industries with reconversion, the EBRD's mission includes development of a fabric of small and mid-sized enterprises to create a more competitive economic base. Because despite the harsh social costs of the transition to a market economy, it is clear that nobody wants to go backwards.