The fraction of U.S. currency estimated to be held in foreign countries rose dramatically from less than 20 percent in 1980 to almost 50 percent in the late 1990s, and it has remained near this high level even as inflation rates have come down almost everywhere.
The indicators show that the banking sector is still fragile, the adjustment is far from finished, and it is still difficult to see what the strategy is here. For example, an asset management company is a good idea, but it is technically difficult to do and can take time to become operational. And how do you see the possibility of nationalisations?