It is my belief that each particular feature of our monetary policy concept was a necessary condition for the success of the transition and that, all together, they created the necessary conditions for that remarkable success.
Finally, it may also help to deal with what is to be considered the four-letter word in financial stability, namely the issue of “turf” or the unproductive competition or lack of cooperation between agencies charged with overlapping responsibilities. The Financial Stability Forum brings together a wide cross-section of individuals and institutions involved in the promotion of financial stability.