The objective to restore confidence and enhance the resilience of credit institutions to withstand shocks in an uncertain economic environment has always been a challenging task. Yet we should not forget that this is a prerequisite to fulfill the ultimate objective of financing the real economy to promote sustainable economic growth, create jobs and ensure better standards of living for all citizens.
Financial stability is a prerequisite for sustainable growth; it is also true, however, that financial stability on a sustainable basis cannot be achieved without growth. Failure to maintain strong growth has been the biggest threat to long-term stability in the EU.