Trichet on financial stability & structural change

In a speech to the Second Conference of the Monetary Stability Foundation given on 3 June, Jean-Claude Trichet of the ECB said faced with new developments in the financial markets, namely, their increasingly large role and their integration across borders, both markets and regulators have given a powerful, if possibly yet incomplete, response.

"Financial innovation has undeniably supported the deepening of financial markets, making them more efficient and enhancing their potential to support

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