3/5  BIS central bankers' speeches  As I said in a recent speech in Ireland, young people do not want to live on subsidies. They want to work and expand their lifetime opportunities.17 So we should never think that simply compensating the “losers” of reforms is enough.
Public policies have to be designed to help people back into work, and into jobs where they can develop and refine their skills. Given the ongoing polarisation of skills in labour markets, this points to the crucial importance of strong education and training systems.