As a corollary, their subsidiaries will be subject to the same discipline. However, this is clearly not the case. There are some measures that would be useful in addressing these challenges. One of these, which I have already proposed, is to require large local banks to list a percentage of their equity, say 30%, on local stock markets.
XII Ladies and Gentlemen, A stable and strong euro will serve as a catalyst of the ongoing process of European integration – among the present member states and the accession candidates alike. Euro banknotes and coins – to be put into circulation in less than five weeks – will soon become the most obvious symbol of a unified Europe.