Who Takes Care of Financial Stability in Europe?

Lorenzo Bini Smaghi and Daniel Gros
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Lorenzo Bini Smaghi: Italian Treasury

Chapter 2 in Open Issues in European Central Banking, 2000, pp 29-66 from Palgrave Macmillan

Abstract: Abstract Financial stability is a fundamental requisite for sustainable economic growth. It is at least as important, if not more so, than price stability. Without financial stability, economic activity and price stability may be at risk, as shown by the 1929 crisis or more recently, by the repercussions following the 1997–98 crisis in the Asian markets.

Keywords: Monetary Policy; Central Bank; Euro Area; European Central Banking; Financial Stability (search for similar items in EconPapers)
Date: 2000
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-333-98188-7_3

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DOI: 10.1057/9780333981887_3

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