Crises are costly for the countries concerned and also for the international system. Given the increasing economic and financial importance of emerging markets, major events in these countries are bound to have spill-over effects to the rest of the world.
The outcome in the last five years is a testimony to the achievement of these objectives. I want to state that, we can be very pleased with the fact that our regulatory regime proved itself to its full extent during the recent world wide financial meltdown.