Mr Noyer sheds some light on the international role of the euro  Speech presented by Mr Christian Noyer, Vice-President of the European Central Bank, before the Monetary Commission of the European League for Economic Cooperation, held in Kronberg, on 26 November 1999.
The lack of integration and coordination in financial regulation was pervasive before the crisis, even though this was not properly appreciated at the time, and has encouraged financial institutions to engage in a large degree of regulatory arbitrage.