Introductory statement by Mario Draghi, Chair of the ESRB, Brussels, 28 January 2019.
“Our first discussion topic today was euro area economic policies. We agreed five priorities for 2019 in the areas of: Growth enhancing structural reforms; Fiscal sustainability and public investment; Labour markets and social inclusion; Financial stability; and finally EMU deepening.”
Today’s package includes 14 measures in a limited number of areas where a “no-deal” scenario would create major disruption for citizens and businesses in the EU27. These areas include financial services, air transport, customs, and climate policy, amongst others.
Documents will be added as they become available.
The euro area financial stability environment has become more challenging since May, the latest Financial Stability Review (FSR) of the European Central Bank (ECB) says. On the positive side, a growing economy and improved banking sector resilience have continued to support the financial stability environment in the euro area. Furthermore, a series of volatility events have not spread to the broader global financial system.
The 1st Annual Conference of the JRC Community of Practice in Financial Research (CoPFiR) will deal with the resilience of the banking sector and the financial system at large. It will also try to identify future challenges to financial stability.
The European Insurance and Occupational Pensions Authority (EIOPA) welcomes the Special Report No 29/2018 of the European Court of Auditors (ECA) on EIOPA’s contribution to supervision and stability in the insurance sector in particular the recognition of its “important contribution to a common supervisory culture and financial stability in the insurance sector”.