Though macroprudential policy in the European Union or the euro area is rapidly developing, a large part of it remain untested. As macroprudential policy bridges the gap between common monetary and largely country-specific fiscal and structural policies, it is an extremely valuable supplementary policy tool for the Economic and Monetary Union. Coordination between the European Central Bank and national competent authorities, and between micro- and macroprudential supervisors are the keys to addressing financial stability risks.
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Topics
- Economics
- Finance