The Lisbon agenda of 2000 was, and is, a fundamental and ambitious programme to draw Europe’s attention to the urgency of structural reforms. It identified all major areas which need to be changed. However, the modest and uneven implementation so far has clearly shown how difficult reforms are. More recently, the Lisbon agenda has been refocused towards growth and employment.
The Financial Services Regulator has as its focus the protection of consumers by helping them to make more informed decisions in a safe and fair market and to foster sound dynamic financial institutions. The Central Bank’s statutory responsibility in this regard relates to the stability of the overall financial system and not individual institutions.