As Stephen Cecchetti recently noted, “there should come a day when the Basel Committee’s list of globally systemically important banks, or G-SIBs, is blank”. 7 Lack of a systemic aspect There was clearly also a lack of a sufficient macro-prudential aspect to banking supervision and regulation prior to the crisis.
The analysis of cost and price competitiveness across a wide range of indicators suggests that euro area countries have experienced rather diverse competitiveness trends since the start of the EMU.