ECB's Papademos on financial integration

Financial integration is highly relevant to the Eurosystem's role in safeguarding financial stability, said Lucas Papademos, the vice president of the European Central Bank (ECB).

Introducing the ECB's new report on financial integration in Europe, Papademos said: "More integrated financial markets enhance the opportunities for sharing and diversifying risk and increase the market liquidity. At the same time, a more closely integrated financial system also raises the scope for spill-over effects

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