Italy's Draghi on FSB initiatives

In a speech to the International Monetary and Financial Committee last month, Mario Draghi, the governor of the Bank of Italy and the chairman of the Financial Stability Board (FSB), reported on the progress the board had made in the three weeks since it had been established.

"Our main challenge is to break the negative feedback loop between the financial system and the real economy," he said. "As we take steps to revive credit markets, we should be especially mindful of the need to maintain an

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