The financing conditions which led to the crisis? The euro did not cause the crisis. What led to the crisis was that we allowed money to be invested in non-productive activities, like the housing market. We also allowed certain countries to file false accounts and accumulate debt far beyond reasonable levels.
This must  BIS central bankers’ speeches  5  be rectified, but the existence of the euro itself has spurred growth in the euro area. Now we have to continue to identify, one by one, the sources of weakness, and propose solutions. What role can the ECB play in the face of the rise of populist movements?