It was perhaps the first time in economic history that a single negative event was able, within a few days, to have a simultaneous and negative effect on all private economic agents in every economy, industrialised and emerging.
This is why we are presently in uncharted waters, and the risk of abrupt economic and financial phenomena and unprecedented behaviour on the part of economic agents remains. Public authorities, executive branches, and central banks must do all they can to regain, preserve and foster confidence among households and corporations to pave the way for sustainable prosperity. This calls for actions to be measured.