Emona, too – the ancient predecessor of Ljubljana the early Christian times – was a thriving city thanks to flourishing trade. 4/9  BIS central bankers' speeches  These days, however, open markets don’t seem to be very popular anymore.
Essentially, what we are aiming for is a more balanced financing mix where firms have a greater ability to substitute bank and market finance, and hence intermediation becomes more contestable and resilient. I would however emphasise that balance is key; we should not view market finance as a cure-all.