Lorenzo Bini Smaghi: Has the financial sector grown too big? Speech by Mr Lorenzo Bini Smaghi, Member of the Executive Board of the European Central Bank, at the Nomura Seminar “The paradigm shift after the financial crisis”, Kyoto, 15 April 2010.
At the national level, euro area 4/5  BIS central bankers' speeches  countries have stepped up structural reform efforts in the labour and product markets to boost productivity and in the fiscal sector to make public finances more effective.