However, this growth has been relatively slow and below potential. Our expectation is that growth this year will be in the region of 2,8 per cent, increasing to 3,2 per cent in 2011, which is not sufficient to have a marked impact on unemployment.
The traditional, precrisis framing of the question went something like this: Should policymakers rely on ex ante measures to lean against potential financial imbalances as they build up, and thereby lower the probability of a bad event ever happening, or should they do most of their work ex post, focusing on the clean-up? Post-crisis, the emphasis in the debate has shifted.