The G7 and IMFC meetings last weekend, as well as the G20 meeting four weeks ago, confirmed in my view a strong signal of reform that can provide the basis for a more resilient global economy in the future. In my remarks, I would like to focus mainly on the ECB’s response to the crisis.
I will also note, en passant, how our policy compares with those of other major central banks. Clearly, there are differences in central banks’ approaches to managing the crisis. In my view, these reflect profound differences in the economic structures within which central banks operate. But they do not reflect conflicting views on fundamental principles. Central banks around the world are united in purpose.