8  BIS Review 64/2006  conducted to enhance the degree of preparedness of the authorities concerned in dealing with a real crisis having a cross-border dimension. IV. Concluding remarks  In my presentation, I have tried to tackle the triangular relationships between price stability, financial stability, financial efficiency and the roles of monetary policy and supervisory policy in attaining these objectives.
Another factor is the negative impact that the worsened public finances of any country can have on others within the Union, given the fact that their financial systems are interlinked and their institutions, notably banks, are significant holders of government bonds.