In 2013 a Communication from the European Commission had provided for the immediate application of a new burden-sharing scheme which, in the event of a bank crisis, imposed losses on shares and subordinated bonds as a prerequisite for public intervention.
Mr Stals addresses the subject of inflation targeting as an anchor for monetary policy in South Africa Address by the Governor of the South African Reserve Bank, Dr Chris Stals, at a breakfast meeting of the Johannesburg Branch of the Institute of Bankers in South Africa on 17 March 1999. 1.