While the profitability of some banks may be impaired in the short run, the system, once cleaned, will be able to support economic growth in a sustainable and profitable way. To be less proactive, as our past and the history of banking across the world suggests, will only see the problem get bigger and less manageable.
Let me now turn to the structural reforms that we intend to implement in the financial sector, which will build on the platform of macroeconomic stability to generate growth. We will increase efficiency through greater entry and competition. We need more participation in our financial markets to increase their size, depth, and liquidity.