Moreover, there are a number of positive factors: no Greek bank has faced any crisis; in 2008 their high profit rates will be sufficient to help banks to further increase their capital base. Of course, many questions remain on the adequacy of the measures at the euro area level and on the volume and pattern both of the state financial support and fiscal stimulus.
But as you have probably observed, Koreans have a long tradition of uniting as one in their efforts to overcome adversity. Korea brought about the “Miracle on the Han River”. It rose from the ashes of the Korean War and utter destitution to become a member of the so-called rich countries’ club of the OECD within less than half a century.