However, in 1994, a speculative attack on the peso led to a sharp currency devaluation and a financial crisis. Brazil adopted a stabilization program in 1994, the Real Plan, which included aggressive de-indexation of wages and prices along with other structural reforms (Bogdanski, de Freitas, Goldfajn, and Tombini, 2002). At first, the exchange rate was allowed to float.
Thank you for your attention. 1 Speech by Gabriel Bernardino, Chairman of EIOPA at the 7th Annual Conference: Insurance and Pensions  Reloaded: A Game Changer 2 EIOPA has developed co-operation platform meetings in relation to cross border insurance. Platform meetings  between relevant national supervisory authorities are set up when issues of supervisory concerns are detected.