One obvious impediment in this respect is the limited availability of harmonised statistical data for the euro area. This is only natural, given that the euro area did not exist as a single currency area before January 1999.
They argue that a strategy for prudential policy must address three main weaknesses: the impossibility of fine-tuning bank safety margins in the uncharted territory that is banking in the developing world; the need to provide insulation against the large shocks to which these economies are prone; and the lack of enforcement that results from the concentration of political power in many such countries.