Lucas Papademos: Financial integration, financial innovation and development Opening remarks by Mr Lucas Papademos, Vice President of the European Central Bank, at the Second Symposium of the ECB-CFS Research Network on “Capital Markets and Financial Integration in Europe”, Frankfurt am Main, 13 February 2008. * I.
These lower interest rates would then stimulate consumer and business demand in several ways, including encouraging mortgage refinancing that could lead to increased consumer spending, boosting exports through a likely lower exchange rate, and fostering higher equity prices, thereby creating additional wealth.