The level of trust and cooperation within the central-banking community has increased significantly during the crisis, said Lorenzo Bini Smaghi, a member of the European Central Bank's executive board.

Bini Smaghi said that since the start of the crisis a level of trust and cooperation was achieved within the central banking community that some would have considered unthinkable a couple of years ago. He said that central bankers had engaged in unprecedented joint actions to provide liquidity