Kiyohiko G Nishimura: Ageing, finance and regulations Keynote address by Mr Kiyohiko G Nishimura, Deputy Governor of the Bank of Japan, at the Joint Forum Meeting, Tokyo, 14 November 2012. *  *  *  Introduction: population ageing, economy and finance It is my great pleasure to have the opportunity to speak at the Joint Forum Meeting in Tokyo.
Second, as recently advocated by the ECB in its opinion on the establishment of a European Investment Stabilisation Function1 , the euro area needs a fiscal instrument to help maintain convergence in the face of large exogenous shocks, thereby also supporting the single monetary policy.