9 Differences in fiscal policies and other national policies can also give rise to diverse economic situations. There is an additional source of diversity due to the one-off shock constituted by the launch of the euro that may currently be working its way through the system.
Someone will always bear the costs of the least disruptions, and invariably, it is the public. As we move forward towards full recovery, now is the opportune time to look ahead, recognizing lessons from the past while anticipating the possibilities of the future. This is why the Financial Stability Coordination Council put together this Systemic Risk Crisis Management Framework which we are releasing today.