The continuity of this information flow is crucial to the process of price discovery – that is, the ability of market participants to assess the fundamental worth of each financial asset. During periods of financial distress, however, information flows may be disrupted and price discovery may be impaired.
European Central Bank: Press conference – introductory statement Introductory statement by Mr Jean-Claude Trichet, President of the European Central Bank and Mr Lucas Papademos, Vice-President of the European Central Bank, Vienna, 4 October 2007. *  *  *  Ladies and gentlemen, the Vice-President and I are very pleased to welcome you to today’s press conference here in Vienna.