In this context, it has been argued that the harmonisation of insolvency legislation would bring benefits (ECB (European Central Bank) 2022b; Bhatia, Mitra, Weber, Aiyvar, Antoun de Almeida, Cuervo, Oliveira Santos and Gudmundsson 2019). 11. See German Act on the Monitoring of Financial Stability (Finanzstabilitätsgesetz): https://www.bundesfinanzministerium.de/Content/EN/Gesetze/Laws/2012-11-28act-on-the-monitoring-of-financial-stability.html [https://www.bundesfinanzministerium.de/Content/EN/Gesetze/Laws/2012-11-28act-on-the-monitoring-of-financial-stability.html] . 12.
It was only in 1999 - the year which started with the Eurosystem - that the annual rate of price increase, strongly influenced by developments in 1998, remained within the defined stability corridor at 1.1%. Since then, the price norm has not been met. In 2000, the average annual rate of inflation was 2.3%.