Any measures taken are likely to entail significant financial commitments, and these need to be big enough to put a stake in the ground. Such costs should not be looked at in isolation, but in relation to the costs already incurred, and the costs of not resolving the crisis. There is a long, painful path ahead for all of us.
Unless there is a cohesive understanding of who does what, and what is likely to succeed, then we will not rebuild confidence. Not only can it be done, it has to be done. Thank you. 6  BIS central bankers’ speeches