BIS Review 22/1998  -5-  That said, there are clear linkages between the fault lines, and in the Asian case, there was a conjuncture of problems. Large capital inflows led, more-or-less inevitably, to excessive credit growth and growth of the financial sector, because it was not possible to sterilise them fully.
This is why today I call on the industry to take the next step and develop end-user solutions that will allow consumers and businesses to enjoy the benefits of instant electronic payments in any payment situation, in addition to cash, which is still popular.