Recent indicators point to a stabilisation or a slight pick-up of economic activity in several major economies, suggesting that the most acute phase of the crisis might be behind us.
Thus, it seems to be the right time to review what went wrong, to take stock of the lessons learned and to propose ways to reduce the likelihood of similar events occurring in the future. In my remarks today, I will argue that the crisis has shown us that policy-making is faced with new challenges and needs to take some new, less explored paths.