In my remarks today, I will consider the state of the euro area recovery, the role of monetary policy and finally the steps needed to strengthen the euro area and the EU. The state of the euro area The euro area recovery is currently proceeding at a moderate pace.
Given China’s domestic situation, the stability of the financial system and macroeconomic policies are directly related. Due to the large share of bank credit in total financing, there is a close relationship between fluctuation of credit supply and economic cyclical change on one hand and systemic financial risks on the other.