ECB's Financial Stability Review, December 2005

The European Central Bank published its December 2005 Financial Stability Review on 8 December. In the report the ECB said the strength and resilience of the euro area financial system has further improved over the past six months, contributing to a positive outlook for financial stability.

"At the same time, however, financial imbalances have grown larger and seem likely to continue expanding, primarily at the global, but also at the euro area, level."

"Continued strength in the pace of global

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