And  5  See Paul Tucker (2009), “The Crisis Management Menu,” speech at the SUERF, CEPS and Belgian Financial Forum Conference: “Crisis Management at the Cross-Roads,” held in Brussels, Belgium, November 16. 4  BIS Review 12/2010  loans to consumers too expensive? The tendency by Washington to micromanage can harm an economy that desperately needs a competitive, vibrant, sustainable banking system.
We have avoided the collapse of the financial system, supported the functioning of the transmission of monetary policy to the economy and, ultimately, ensured price stability, thereby supporting the European economy. However, these measures are by their nature temporary.