In lock step with the decline in churn, evidence suggests that capital misallocation has been rising in both regions.14  6/9  BIS central bankers' speeches  As an example of barriers to business creation, it takes on average about 10 days to start a new business in the euro area.
Indeed, the past turbulences have highlighted the necessity of adequate cooperation and information exchange mechanisms between central bankers, bank supervisors, and financial regulators at the national and international level. These mechanisms should ensure a timely and appropriate response to market and institutions in stress situations.