It appears now that the shock with which the global financial system had to cope with after the burst of the internet bubble was, all things considered, quite modest and that the resilience of the system at that time had probably been wrongly attributed to the, already largely spread, use of derivatives.
Now, as I said, we have the real test and it is extremely important that we do not miss any of the lessons that should be drawn from the present financial turmoil. It is important that these lessons are drawn at both national and regional levels.