Netherlands Bank says macro-prudential tools have ‘added value’ in currency union
The macro-prudential tools handed to European member states will not only boost their own financial stability, but will also strengthen the eurozone as a whole, according to a Netherlands Bank bulletin published today.
The bulletin notes that the recent eurozone crisis was "caused in part by diverging financial developments" between its member states. New macro-prudential instruments, it said, will help to mitigate these imbalances in the future.
"In a currency union, it is especially difficult
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