Although we have been fairly successful in achieving our mandate of price and financial stability, I am left to wonder how much better our results would have been with greater cooperation from our stakeholders. I can only renew my call for strengthened collaboration and hope that this time my call does not fall on deaf ears. 67.
I am hopeful that this will significantly curtail financial institutions’ ability to blackmail the taxpayer. It is now up to governments to transpose the Key Attributes into national law and legislation. In Europe, the draft directive for the restructuring and resolution of credit institutions and securities firms, which was published in June by the EU Commission, is an important step in the right direction.