As a second step further down the line, we should then discuss how we can create a strong European reinsurance system for deposit protection that intervenes when national schemes are unable to cope – but only then. If we manage to do this, we will make the banking union more stable and more credible.
I commend the IDR 2008 to scholars and lay persons alike. On this occasion, I will respond briefly to a very significant remark in the IDR 2008 in its section titled “Overview” since it relates to performance and prospects for the Indian economy. The remark reads as follows: “The improvement in macroeconomic stability could be due to macroeconomic policies.