The macro-prudential policy framework and instruments in the EU Single Market  Let me now turn to the design of a macro-prudential policy framework and the definition of a policy toolkit that is expected to be available for authorities to address the identified systemic risks in Europe.
24  See “Contagion and the European debt crisis”, Keynote lecture by Vítor Constâncio, Vice-President of the ECB at the Bocconi University/Intesa Sanpaolo conference on “Bank Competitiveness in the Post-crisis World” Milan, 10 October 2011. 25  See Special Feature C of the June 2012 ECB Financial Stability Review, “Evaluating interconnectedness in the financial system on the basis of actual and simulated networks”.