Suitable recovery and resolution regimes for central counterparties need to be established. We must not allow new systemic risks to build up at central counterparties and make us vulnerable. What needs to be done? In conclusion, let us look at the most important tasks facing us in terms of safeguarding financial stability.
One major risk factor is the European debt crisis and the risks of contagion it entails. The debt crisis is far from being over. How could it be otherwise? The underlying imbalances built up over a long period of time, and correcting them will therefore also be a long process.