José Manuel González-Páramo, an executive board member at the European Central Bank, on Thursday said higher macroeconomic volatility and lower growth would be the norm in the post-crisis financial system.

At the conference at the Spanish National Council of the Urban Land Institute in Barcelona, Spain, González-Páramo said: "As the crisis is still unfolding, we cannot tell with certainty how our economic and financial systems will function in the future. However, we can safely predict that many