Only with such a common, comprehensive response can we durably leave this crisis behind, and re-focus on the purpose for which the euro was launched: the unity and prosperity of the peoples of Europe. That is no doubt a challenging task. But the Cultural Days are a reminder what Europe is all about and why it is worth standing up for.
When a situation of financial stress actually emerges and risks developing into a financial crisis, supervisory information remains again crucial for central banks’ financial stability assessment. But in this case, the need for information will be very much driven by the nature of the stress.