The conditions for euro area entry in the legal domain refer, in particular, to central bank independence, the prohibition of monetary financing and privileged access to credit, and the integration of the national central bank of the country concerned into the Eurosystem.
In our quest for well-being, the dream of finance-led growth has still not been replaced with more realistic policies. As memories of the crisis fade, decision makers are once again pushing for finance to produce illusionary wealth. Today, I want to talk to you about the dreams and the reality of finance-led growth – about what finance can deliver, and what not. 2.