And I hope that my thoughts will perhaps have some small value added, even though I quite deliberately do not wish to go into the very recent events. My topic will therefore not be crisis management but the long-term prevention of crises.
I would certainly be missing the point of the topic I am dealing with if I were now to list the whole wealth of existing proposals on stabilising the financial system. There isn’t enough time for that anyway. Therefore, instead of going into details, I shall try to highlight the fundamental issues that underlie many of the recommendations for action.