The fibrinolytic system generates plasmin, which dissolves fibrin in haemos
tatic plugs and in thrombi. It is often regarded simply as a secondary phen
omenon responsive to the generation of thrombi but it is, rather, in dynami
c balance with fibrin formation, such that abnormalities in either can lead
to thrombosis. This chapter summarizes the fibrinolytic system and its reg
ulation. It considers the components of the system in blood, both in plasma
and in circulating cells, with emphasis on protease-inhibitor balance. It
goes on to discuss local fibrinolytic potential in thrombi, both venous and
arterial, and in the diseased vessel wail, presenting evidence that increa
sed local inhibition of fibrinolysis by PAI-1, PAI-2 and alpha(2)-antiplasm
in is intimately involved in thrombus stability and in the generation of fi
brin-rich vessel wall lesions. Finally, it reviews the evidence that defect
ive plasma fibrinolysis has a causal role in venous and arterial thrombosis
.