Mr. Tietmeyer discusses prospects and challenges for European integration in the run-up to EMU Speech by the President of the Deutsche Bundesbank, Prof. Hans Tietmeyer, on the occasion of the awarding of the Special Prize 1997 of the German-British Forum in London on 15/12/97 (slightly abridged). ... As Christmas is very close, I would like to quote David Marsh.
24 As lenders can ease or amplify an economic crisis, their resilience is central to minimise potential scarring. Through the steps taken in recent years, the domestic banks are now more resilient today than they were in the past. The capital requirements imposed on banks have ensured that they are better prepared for economic shocks such as the one we now face.