3 The CICD is led by  I am grateful to Amanda Roberts and Matthew Lambert of the Federal Reserve Board and Casey Lozar of the Federal Reserve Bank of Minneapolis for their assistance in preparing this text. These remarks represent my own views, which do not necessarily represent those of the Federal Reserve Board or the Federal Open Market Committee. 2 See http://www.ncai.org/about-ncai.
The international financial system has gradually returned to health, but fragilities remain. World economic growth remains weak, with a persistently high level of uncertainty and important vulnerabilities and risks with potentially significant consequences. Even though the financial crisis began across the Atlantic, the consequences for the euro area were considerable and still persist.