In order to succeed, we must avoid piecemeal policies and work in order to reinforce mutual trust at the international level. A comprehensive view of all the trade-offs entailed in the various policy measures is required in order to safeguard the stability of individual financial institutions, with the key objective of ensuring the availability of resources for investment and economic growth.
2  4  This effort is being undertaken by the Pan-European Private Placement Working Group, led by the International Capital Market Association.