Unfortunately, financial crises have occurred in recent years in several countries. All elements – the setting of codes, rules and procedures, their implementation and monitoring – have to be respected to safeguard international economic and financial stability. Some initiatives are already under way in this respect.
Although the decisions of the Constitutional Court there remain an unknown. BIS central bankers’ speeches  1  What makes you so optimistic about Spain? Unemployment is no longer going up; the current account is in surplus. We see at least a bottoming out, a turnaround. You don’t mention Greece?