This is something that Emmanuel Macron has understood very well. France is expected to make proposals about reforming the euro area. But to be credible, it must itself undertake the reforms necessary to bring the French unemployment rate closer to the best performers within the EU. 3/3  BIS central bankers' speeches
4  BIS Review 104/2009  •  Fourth, cross border resolution issues will continue to be daunting especially as national regulators will seek to protect domestic depositors and stake holders.