I would like to warmly congratulate the graduates and their families. “Graduation” derives from the Latin word for step. You have all taken an important “step” in the journey of life – and one that is well worth celebrating. You had the great opportunity to study in the beautiful city of Paris, in the heart of Europe. Europe’s uniqueness lies in its cultural diversity.
Many countries took measures to inject public funds to financial institutions and to guarantee financial institutions’ debt. In addition, in response to global liquidity tightening, international coordination among central banks, such as dollar funds supplying operations using the dollar swap arrangement with the Fed, has been swiftly implemented.