The speed with which we respond, the ways in which we deal with the challenges, and the extent to which we seize the opportunities, are all profoundly important. Over the past few years, Canada has responded rather well to a dramatic change in its terms of trade. Sound monetary policy has helped in two ways.
How do you explain the fact that, after the last recapitalisation of Greek banks and the relaxation of capital controls, we have witnessed neither a significant return of deposits 2/4  BIS central bankers' speeches  nor more liquidity in the economy nor a reduction in non-performing loans?