That is to say: monetary policy will still face difficult choices! 6  BIS central bankers’ speeches  3. Stronger failure resolution mechanisms  During the GFC, many failing banks were bailed out by governments who feared the systemic consequences of large scale creditor losses.
By the way, in Brussels a number of men were likewise earmarked for the Executive Board. But they are, of course, not so important - not, at least, this evening. Sirkka, sincerest congratulations! We are all delighted that you are going to become a Frankfurt central banker. I wish you, for our own sakes, every success.