Let me give you a small, but interesting example of Lamfalussy’s convictions: He became a member of “La Relève”, which was both a political club and a weekly magazine close to the left wing of the Belgian Christian Democrat Party. It is noteworthy that the keynote speaker at the 30th anniversary of La Relève in 1975 was Jacques Delors (Maes, 2011, p.17).
This is particularly true at the international level, where natural barriers to transactions are formidable. One of the global governance’s primary aims should be that of facilitating the proper functioning of cross-border markets and thereby of reducing transaction costs.