5 This arrangement facilitates the potential gains from financial integration, while the elimination of intra-area currency volatility supports the durability of the Single Market by ruling out politically-divisive nominal exchange rate adjustments (Dornbusch 2003). 5  See, amongst others, Lane (1997, 1998) and Barry (2017) on ex-ante assessments of the likely impact of the euro on the Irish economy.
The major new measures and initiatives featured in the Plan include:   A refocused approach to strengthening the financial system including a new approach to financial stability assessment;    The development of a new regulatory model with an enhanced supervisory capacity for the detection and correction of problems with an active and challenging approach;    Interacting with new EU supervisory bodies, such as the European Systemic Risk Board and the European System of Financial Supervisors;    Building on consumer protection including a review of the Consumer Protection Code;    Greater attention in our economic research on the functioning of the financial system and fuller collaboration with the universities, ESRI and the wider public service;    Moving towards a 100% charge back arrangement on the costs to industry to reduce the cost to the taxpayer.