The stable macrofundamentals and sound banking system have not gone unnoticed. Our investment grade credit rating clearly reflects these. In addition, the institutionalization of our governance reforms continues to be reflected in improvements in our international competitiveness.
Against this background the message I’d like to convey today is very simple: Although a comprehensive set of harmonised and consistent series of euro area indicators for monetary policy is now available, there is scope for collecting and compiling new data which could be used for financial stability purposes.2 What we need to assess the stability of the financial system is a very complex statistical framework.