Social capital is an especially important factor for the development of the financial markets: the relationship of reciprocal trust between borrowers and creditors underpins the stability and correctness of business activity. The lack of it is, among other things, a barrier to the market entry of newly created  BIS Review 125/2006  1  firms.
Jean-Claude Trichet: Testimony at the Economic and Monetary Affairs Committee of the European Parliament Testimony by Mr Jean-Claude Trichet, President of the European Central Bank, at the Economic and Monetary Affairs Committee of the European Parliament, Brussels, 20 December 2006.