A union of this kind, the Latin Monetary Union, inaugurated in 1865, brought together Italy, France, Switzerland, Belgium and Greece, but it had a difficult life and broke up, as a practical matter, at the beginning of the next century. The monetary unions realized within federal states – the Swiss and the German ones – fared better.
In short, central bank is responsible for promoting the healthy development of the real estate financing and must conduct a deep analysis of the relevant institution building. II. Research on housing financial system must be accelerated. Housing reform in China was conducted gradually following the famous dictum by Mr. Deng Xiaoping, i.e. “crossing river by touching the stones”.