Up until now, aid to Greece has always been justified by the objective of ensuring financial stability throughout the euro area. The bottom line is that public finances also benefit from stable financial systems, because they produce fewer crises that might necessitate government rescue measures.
BIS central bankers’ speeches  1  Thus, in order to get the sovereign debt crisis under control and create a stable monetary union, the financial system needs to be strengthened and the institutional framework of European Monetary Union improved.