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Who Takes Care of Financial Stability in Europe?

In: Open Issues in European Central Banking

Author

Listed:
  • Lorenzo Bini Smaghi

    (Italian Treasury)

  • Daniel Gros

    (Centre for European Policy Studies)

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.

Suggested Citation

  • Lorenzo Bini Smaghi & Daniel Gros, 2000. "Who Takes Care of Financial Stability in Europe?," Palgrave Macmillan Books, in: Open Issues in European Central Banking, chapter 2, pages 29-66, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-333-98188-7_3
    DOI: 10.1057/9780333981887_3
    as

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