During this period of high uncertainty, we must ensure closer European integration and a solid regulatory framework, says Vice-President Luis de Guindos as he presents our 2022 Annual Report to the @europarl_en.
Read the speech https://www.ecb.europa.eu/press/key/date/2023/html/ecb.sp230525~17a96d98fc.en.html
1/4
The inflation outlook continues to be too high for too long. In this highly uncertain environment, our decisions will be data-dependent to determine the appropriate level and duration of restrictive policy to achieve a timely return of inflation to our 2% target.
2/4
De Guindos: Spillovers from recent banking stress in other regions were mitigated by solid euro area bank fundamentals. We must attune our regulatory framework to the times and strengthen the regulation of non-banks to avoid the risk of blind spots in the financial system.
3/4
De Guindos: Implementing the final elements of Basel III faithfully and without delay is crucial. The lack of a European deposit insurance scheme is a source of vulnerability. Completing the banking union is essential to pave the way for a stronger and more prosperous Europe
4/4
🐦🔗: https://n.respublicae.eu/ecb/status/1661663136477216770