I am cautiously optimistic that the United States and the global economy will weather the century date change without major disruptions to economic activity.
Right now, Germany is balking at the idea of this kind of mutualisation – not least because many Italian banks are still harbouring masses of bad loans on their balance sheets. Nobody in this country wants to be liable for that. How can this problem be 2/4  BIS central bankers' speeches  solved? It’s already being solved.