10  Surveys of workers displaced from jobs because their plant closed or moved show that rates of such job loss fluctuated only a little, on balance, from 1983 to 2003 despite the decline in unemployment over that period (Farber, 2005).
It is equally because a stable financial system is needed for an effective transmission of monetary policy and for the smooth operation of payment systems. A robust financial system is therefore needed to ensure that the single monetary policy can deliver on the primary objective of maintaining price stability in the euro area.