It is therefore crucial that - in addition to the self-regulation of the markets, which will lead to a further consolidation of the stock market landscape in Europe - the action plan adopted by the European Council to implement the internal market for financial services by 2002 is also rigorously applied. III.
Credible policies in the euro area  The further development of the international role of the euro will depend in the first place on the confidence which the financial markets place in the new currency. In the long run this trust in a currency can only be earned by pursuing credible policies. For monetary policy this means safeguarding price stability.