Therefore, utmost efforts should be devoted to assessing outstanding problems and identifying possible ways forward. The ECB strongly supports the recent establishment by the Commission of a group of experts to pursue this aim. There is one central challenge to all crisis management frameworks and this is speed. The rapidity of unfolding developments is one of the greatest challenges for policy makers.
This Seminar presents a unique opportunity for us to understand the macroprudential approach for maintaining financial stability. It is my sincere hope that all the participants would maximize the opportunity offered by this Seminar to enhance their capacities in this area through active participation and sharing of experiences.