In this respect, the implementation of the Lamfalussy framework represents a unique opportunity to achieve a consistent regulatory and supervisory framework for financial services. Second, the policies relating to the regulatory and supervisory framework should be complemented by and closely coordinated with other relevant policies for financial services, for instance competition policy.
However, we are closely monitoring the new European currency. We hope that the euro will become a stable currency and anticipate its wider use in world trade. If this happens, we will have all the necessary economic grounds for joining the European Monetary Union after Latvia’s accession to the EU. BIS Review 124/1999  4