I believe that a more symmetric reaction to financial forces can be best ensured by according a prominent role to the analysis of money and credit  6  See, for instance, Cour-Thimann, P. (2012), “Target balances and the crisis in the euro area”, forthcoming.
The unweighted average of the shares across euro area countries then stabilised around the same levels, while the weighted average (driven by the largest countries) continued along an upward path. With regard to cross-border euro area interbank liabilities (that is, interbank liabilities coming from other euro area countries), after a fall in the last quarter of 2008, the share remained broadly stable (Chart 6).