Actually, I asked Ambassador Montferrant to look at a photograph I had taken there when he visited me recently in my office. I was appointed Governor of the Bank of Japan three months ago. On the same day with my assuming office, the war in Iraq started.
They have now time to re-arrange their organisations on the basis of an analytical and forward-looking approach, rather than an approach of simply minimising uncertainty. The inefficiencies and potentially higher costs of financial intermediation can be reduced with this agreement.