But at least if the transition is recognised as tricky, then it may be possible to spread it out over a period to reduce the vulnerability. It might be worth noting that in Australia we went through this awkward and vulnerable transition period, with the most obvious manifestation being the “Banana Republic” difficulties in the mid-1980s.
We clearly did not come through this unscathed, but we were lucky that our foreign 1  BIS Review 131/1999  exchange problems (which occurred in the mid-1980s) did not coincide with our prudential problems (which occurred in the late-1980s and early-1990s).