Posted by: mulrickillion | October 18, 2011

Strengthening the Financial Stability Framework of the EU, Address by Ajai Chopra to the 2011 Dublin Economic Workshop — Kenmare, October 15, 2011

Address to the 2011 Dublin Economic Workshop – Kenmare Conference
Ajai Chopra
Deputy Director, European Department, International Monetary Fund
Kenmare, October 15, 2011

As prepared for delivery

Introduction

I would like to thank the conference organizers for offering me the opportunity to talk about how the financial stability framework of the EU could be strengthened.

Much has happened since July when I accepted this invitation to speak and selected this topic. The euro area crisis has reached new heights and a more virulent phase. Sovereign and bank funding pressure persists despite ECB intervention. Market tensions are fueled by a perceived lack of cohesion by European policy makers and concerns about the resilience of banks and the speed of adjustment at the country level. The softening global growth outlook adds to uncertainty.

Given this backdrop, you might ask: why talk about the future financial stability framework of the EU? Aren’t there more immediate matters that need to be addressed? Yes, there are. . . .

Strengthening the Financial Stability Framework of the EU, Address by Ajai Chopra to the 2011 Dublin Economic Workshop — Kenmare, October 15, 2011

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