ECB’s Vasle: Better Integration Required for Robustness of the Financial System

17 May 2024

By Aurėja Bobelytė – VILNIUS (Econostream) – The robustness of the financial system in Central, Eastern, and South-Eastern Europe requires better integration, European Central Bank Governing Council member Boštjan Vasle said Friday.

In a conference held in Portorož, Slovenia, Vasle, who heads the Bank of Slovenia, said, ‘Combining the facts of the size and capacities of our economies with past experiences, an obvious solution is better integration’.

According to Vasle, common frameworks and harmonisation of legislation could help improve integration in the region. Establishing the Capital Markets Union was a key element, he said.

‘Well developed financial systems offer a wide array of benefits in the sphere of growth and development. Speaking from the perspective of the central banker, well developed financial systems are also important for the monetary policy transmission’, he said.