And the conclusions that emerge in terms of policy are relatively clear: there is a need for greater governance integration in the euro area, greater retail banking integration, and greater capital market integration. 9  See for example Fatica, S. et al (2012), “The debt-equity tax bias: consequences and solutions”, European Commission Taxation Papers, Working Paper No.33–2012, July.
Glenn Stevens: The path to prosperity Address by Mr Glenn Stevens, Governor of the Reserve Bank of Australia, at the 2015 Economic and Social Outlook Conference, organized by The Melbourne Institute and The Australian, Melbourne, 5 November 2015. *  *  *  I thank Emily Perry for assistance in compiling these remarks.