Extracts from the European Systemic Risk Board press conference by Jean-Claude Trichet, Mervyn King and Andrea Enria
The General Board of the European Systemic Risk Board (ESRB) met on 22 June 2011 for its second ordinary meeting.
Jean-Claude Trichet, President of the European Central Bank (ECB) and Chair of the ESRB, Mervyn King, Governor of the Bank of England and first Vice-Chair of the ESRB, and Andrea Enria, Chairperson of the European Banking Authority (EBA) and second Vice-Chair of the ESRB, held a joint press conference after the meeting.
The General Board of the ESRB had a thorough review of the systemic risks to which the financial system of the European Union is exposed. It concurred that the most serious threat to financial stability in the EU stems from the interplay between the vulnerabilities of public finances in certain EU Member States and the banking system, with potential contagion effects across the Union and beyond. SHOTLISTLINK