In this respect, the euro has done very well and this has been reiterated many times today. Rightly so. I want to discuss other important aspects of growth in the euro area, many of which benefit from the common currency. I will start by saying a few words about the role of financial integration in catalyzing financial development.
Here, it would be beneficial to diversify by turning more 4  BIS central bankers’ speeches  to the capital markets as an alternative source of funds. A more diversified funding mix would improve companies’ access to funding in normal times as well as in crisis times.