For UTI is a critical data element in making the global OTC derivatives markets transparent. For this reason it is vital that you, the regulators and private sector representatives gathered in this room, are going to pay particular attention today to the governance aspects of the UTI. As you will no doubt be aware, work on the governance of the UTI is already underway.
There he noted his “nostalgia for one of Schumpeter's main themes, namely that economic analysis should concern itself with the process of change, with its succession of cumulative or compensating imbalances, rather than with movements around some identifiable state of equilibrium.”21 I was intrigued to figure out what exactly Alexandre Lámfalussy had in mind when referencing Schumpeter’s idea.