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.
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© 2000 Lorenzo Bini Smaghi and Daniel Gros
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Smaghi, L.B., Gros, D. (2000). Who Takes Care of Financial Stability in Europe?. In: Open Issues in European Central Banking. Palgrave Macmillan, London. https://doi.org/10.1057/9780333981887_3
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DOI: https://doi.org/10.1057/9780333981887_3
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