But I do want to draw attention to the fact that, in the third millennium, it will remain true that: In the long run, there can be stable money only if monetary policy keeps monetary growth under control, the markets are sufficiently flexible, and policy makers ensure appropriate underlying conditions and keep government finances in check.
The ESRB is the macroprudential oversight body for the EU. It can issue confidential or public warnings when it identifies significant systemic risks. Furthermore, the ESRB can issue recommendations for remedial action to address systemic risks.