In this respect, a safety-net facility, which works like a put option to mitigate damages that would be incurred in the worst possible case, is likely to reduce the degree of this “excessive uncertainty aversion.” The measures to secure stability of the financial system (Item 4 of Chart 1) were intended to be the safety-net measures we are discussing here.
In my remarks, I would like to present you our current assessment, mainly – but not exclusively – from a European perspective, of the economic outlook and to address a number of issues pertaining to financial market developments and prospects.