The global crisis of the last years has shown that policymakers around the globe have acted successfully. Confidence has come back. With our policy actions, we at the ECB have supported credit flows to the economy and thus dampened the negative effects of the crisis to the extent possible.
Finally, I would like to provide you with my thoughts about the possible elements of a forward-looking strategy for achieving financial market integration, involving both public authorities and market participants. The integration of financial markets: state of play The introduction of the euro now five years ago has undoubtedly led to larger, deeper and more integrated financial markets.