But in a monetary union, dissimilar developments have extensive implications for two important challenges: first and well-known to everyone here in this room, given its construction, a monetary union is more prone to imbalances because there is no longer a national currency with a floating exchange rate as a means of countering imbalances and regional economic shocks.
However, while it was perceived that a storm was brewing, it was not known exactly what would trigger it, but that it would be appropriate that the financial sector agents should prepare for it so that the correction would be as orderly as possible.