I will then turn to the current challenges facing both the international community and Europe, and the implications of those challenges. International financial integration The clearest example of global economic integration is trade, and this is certainly true for this country. The label “Made in Germany” is recognised the world over as standing for high quality.
Around the world, the experience of recent years has rightly caused banks and their regulators to think again about how large the buffers should be. And the answer has been that they should be larger than they were before. This has been true in Australia too, despite the starting point here being better than in many other countries.