The Global Financial Crisis forced the regulatory attention towards containing systemic risk and ensuring financial stability through strong capital and liquidity standards (such as Basel III), more stringent regulations, and introduction of macro prudential policy toolkit. Financial stability demands timely identification of systemic vulnerabilities along with mitigating measures to limit Page 2 of 5  the spillovers and keep the public confidence intact.
From 2001 through 2008, real GDP rose by an average of 3.9 per cent per year – the second-highest growth rate (after Ireland) in the euro zone – underpinned by household spending for consumption, housing investment, and business investment.