The second is that it is self-defeating because it distorts incentives to clean-up the private and public sectors’ balance sheets as well as inhibiting the exit of unproductive firms and thereby,  BIS central bankers’ speeches  9  the creative destruction process which drives economic growth.
We have heard and discussed many ideas, let us now return home and put them into action – and let us continue to collaborate and to share the experience we gather in our network. But before I let you go, please give a big round of applause to the team behind the scenes.