BIS central bankers’ speeches  1  But still there are issues which we have learnt in economics and economic history which have passed the test. First: A growth model based on ever-growing debt levels won’t last. Second: The stability of the whole economy is important, not only the control of public deficits. The economy needs to be competitive.
From history and not least from the current financial crisis we should learn that banking regulation is exposed to permanent change, and so the debate on the future of banking regulation must and will go on. Thank you very much for your attention. 4  BIS Review 115/2009