Third, based on the Asian experiences of financial crises in the 1990s, many Asian countries including Japan have already made various efforts to enhance the stability and resilience of their financial systems, such as strengthening banks’ capital and building financial safety nets. Now advanced economies are focusing on “macro-prudential” policies.
As we enter our sixth decade as a member of this union, I expect the bonds we have with our European peers to deepen further and the impact of our membership in the European Union to continue to have a hugely positive impact on our economy and society. Thank you for listening and I hope you will enjoy the discussion with Commissioner McGuinness.