After Slovenia joined the euro area – which then enjoyed and still to this day enjoys one of the highest levels of public support in the entire monetary union – the series of historical milestones was followed by a time of economic and financial crisis, which in Slovenia was reflected most evidently in problems in the banking system.
The role of money, credit and the financial system  In order to enhance our analysis and assessment of the impact of monetary policy on price developments, as well as on output fluctuations and asset price dynamics, in a modern economy with a sophisticated financial sector, priority must be given to the further development of structural models that incorporate a banking sector, other financial  BIS Review 103/2007  3  intermediaries and a richer specification of the structure and functioning of financial markets.