Those at the helm of regulatory authorities bear in mind one thing: if they don’t hear any explosion, it means they are dead already. Last year, the Bank of Mauritius revoked the banking license of a 7-year old bank that was part of one of the biggest corporate bodies in the country. It was a systemically important Group of companies.
And the euro and the independent European Central Bank are enjoying a high degree of confidence in investors’ eyes. The continuous and sometimes exasperating insistence on the achievement of the necessary stability conditions has thereby borne its first fruit. However, maintaining those conditions for success is a long-term task.