In particular, the Eurosystem agrees that the main policy objective in the area of financial supervision is twofold: first, to enhance the competitiveness of EU financial markets and institutions and to facilitate the development of cross-border finance both in terms of institutions and in terms of products and services; and second, to ensure the effectiveness of standards for oversight and supervision in a more integrated financial system.
Dispelling the deflationary mindset and creating an economy, in which private entities can act based on an assumption of 2 percent inflation, will lead to reviving the animal spirits of firms that were lost in the prolonged deflationary period and thereby enhancing growth potential.