BIS central bankers’ speeches  7  Putting an end to the debt bias in the corporate taxation regime, then, could also prove to be a major pillar safeguarding financial stability – one that could potentially provide lasting relief for the public sector. 8. Conclusion  Ladies and gentlemen Europe’s financial fabric has become much more tightly woven over the last 25 years.
Third, how many could envisage a situation where the largest financial intermediaries, especially global banks, which are highly rated for their risk management capabilities, would  BIS Review 144/2007  1  suddenly lose full confidence in the liquidity position of each other and thus become reluctant to deal with each other?