Efficiency No one would seriously question the premise that a financial system, whatever its structure might be, will best serve development and welfare objectives by producing its services at as low a cost as possible.
BIS central bankers’ speeches  3  We welcome the on-going work by the Commission and the EIB on joint risk-sharing instruments to support SME lending, which would combine the EU budget resources with the EIB and the EIF lending capacity4. The European Council has supported this initiative and called for these instruments to begin operating in January 2014.