I hope particularly that this seminar will be a good chance to further elucidate the causes and the prognosis for the euro crisis and its effects on EMEs, and share our experiences and wisdom on the future policy challenges.
In short, European supervision and European monetary policy have proven to complement each other well. It is an approach which confirms the synergies that can be reaped when the right policies are combined at euro area level. 1  See, for example: Buch, C. M. and Prieto, E. (2014), “Do Better Capitalized Banks Lend Less? Long-Run Panel Evidence from Germany”, International Finance, Vol.