(April 16, 2012)  2  BIS central bankers’ speeches  Second, the negative spillover effects through financial channels should be minimized. To this end, eurozone member states should build a strong firewall ensuring financial stability, while providing sufficient public funds to banks that they can be recpaitalized to fend off contagion effects. Third, trade and financial protectionism should be completely rejected.
I sincerely congratulate the signatories, and with them essentially all retailers, consumers and banks, on the start of the innovative European payments era. Thank you for your attention. BIS central bankers’ speeches  3