Market functioning and credit and capital availability improved markedly after the Federal Reserve’s detailed, cross-firm comparisons were made public. This is no coincidence. 4  More understandable, frequent disclosures could also foster development of contingent capital securities.
The ECB is not going to create projects, the ECB is not going to create jobs. We create the environment, and the governments have to get their act together and reform. The governments have to make tax reforms and regulatory reforms and instil confidence in the business community.