It ought to be recorded, as well, that the long night for Japan’s banking system seems at long last to be over. But rather than celebrating this for too long, Tim points to issues for the future which go to the heart of the functioning of financial markets and the challenges with which regulators and policy-makers grapple.
It is a great honour to have a very distinguished gathering of central bank governors, senior officials of governments and international institutions, leading academics and practitioners to discuss a very critical issue that occupies the minds of policy makers in the euro area and elsewhere.