C.  Monetary policy and structural reforms  QQE itself is a powerful policy, but it will exert maximum effects when combined with various efforts by both the public and private sectors. Generally speaking, monetary policy can provide indirect support for structural reforms mainly by working on the demand side of the economy, but cannot substitute for such reforms themselves.
Whether such shocks are of an economic nature or whether they originate in the financial system itself, they can end up having an important impact on the economy as a whole. BIS Review 23/2001  1  So there are good reasons why countries should ensure that their financial systems work well and that they do not trigger or spread instability domestically and internationally.