Jean-Claude Trichet: European financial integration Speech by Mr Jean-Claude Trichet, President of the European Central Bank, at the 10th Symposium on Finance, Banking, and Insurance, University of Karlsruhe, Karlsruhe, 16 December 2005. * 1.
At the macro level, Asian countries and Latin American countries have learnt lessons from their own past currency and financial crises and have built up reserves and have strengthened their financial systems apart from consciously developing their financial markets. But they have been careful to ensure that their banks are not involved excessively in toxic assets or innovative transactions.