Decision-making procedures of a federal nature are in this sense preferable to intergovernmental ones that often come with veto rights. In Economic and Monetary Union (EMU), emergency funding is basically provided subject to conditionality on economic and fiscal policies. It is not a transfer; rather, financial support is granted to smooth the adjustment process. Is this the correct way to deal with potential crises?
The ratio of financial wealth - shares, bonds and the money stock - to annual GDP at current prices rose from 240 to 360%. The growth of derivatives makes it possible to carry out transactions with very high leverage, increases the velocity of circulation of the money balances used for financial transactions. Interest rates and the cost of capital have decreased.